When formulating your short sale package, there are items that you will need to collect. By now, most agents that have performed a short sale know what these items are. However, to keep my list up-to-date, I have a checklist that I use all the time. This form helps me create a short sale package that is accepted most of the time from any lender.
____ Cover Letter to Lender
____ Authorization to Release Information
____ Seller's Hardship Letter
____ HUD- 1 (Settlement Statement)
____ Purchase Agreement
____ Buyers Pre-Approval Letter
____ Financial Statements
____ Bank Statements
____ Recent Pay Stubs
____ Tax Returns (2006, 2007)
____ W-2'S for 2006, 2007
____ FHA Documents (if required)
____ CMA - Comparative Market Analysis
____ Listing Agreement
____ Market Conditions Information Overview
____ Property Conditions Report (Inspections)
____ Contractors Estimates (if any)
Example below;
Cover Letter.............Page 1-2
Hardship Letter.........Page 3
2006 Taxes.............Page 4-12
2007 Taxes.............Page 13-18
CMA/BPO................Page 19-23
Etc, Etc, Etc, and So On....
This really helps when talking to the lender and you get the infamous "we did not receive that" statement. Make sure you number every page! Also make sure you have the account number at the top of every page!
Comments(0)