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What Information Your Short Sale Approval Letter Must Contain
If you you are purchasing a short sale, there are certain items that the seller’s short sale letter(s) must contain.
Short Sale Approval Letter Requirements
· Name/address of seller’s mortgage company
· Name, contact phone#, and job title for the seller’s lender representative
· Property address
· Sales price
· Seller contribution amount toward closing costs/pre-paids
· Borrower’s name(s)
· Expiration date of approval letter
If your short sale approval letter does not contain all of the above information, you may have a challenge with your mortgage approval.
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