Short Sell My Property in Highlands County - Step 1 - Documentation:
Let's assume you own a home in Highlands County, Florida are behind on your payments and your home is worth less than what you owe on it. You are considering a short sale. After you have hired a competent Realtor that specializes in short sales you call your lender and let them know that you are listing your home as a short sale.
Along with a good offer, your lender will require a good deal of paperwork. To make the process less stressful and prepare our clients for what to expect, we have put a package together for them to help them navigate their short sale:
1. Most recent Proof of Income. This can be payroll checks, stubs, unemployment stubs, disability stubsd, social security stubs or sub contractor invoice copies.
2. Bank Statments. Checking and Savings accounts. To get the process started online printouts are okay but be to get hardcopies from your bank.
3. Last Mortgage Statement (Payment Coupon) showing loan number and balance due.
4. Authorization - your Realtor needs your authorization to talk to your lender on your behalf. We give our clients an authorization to sign at the time we list the property. We have an in-house short sale negotiator that handles all negotiations with the lender.
5. Financial Statement - this is a sample financial worksheet detailing all your income and expenses. Your lender will likely have their own form for you to complete but it will help to go over the sample form and fill in the numbers ahead of time.
6. Hardship Letter - your lender wants to know why you are not able to make payments anymore. You are asked to write a hardship letter. Examples of hardships are divorce, job loss, illness, death of a spouse etc. We include 3 sample letters with our package to give sellers a starting point.
7. Listing Agreement - this is a plain Jane listing agreement spelling out asking price, terms and conditions. The listing agreement comes with a short sale addendum.
In a nutshell, this is the short sale package we give to our clients at the time we list their home as a short sale to help them navigate the short sale process. To us, this is no big deal, we do this on a daily basis. For most homeowners though the process to get started might be overwhelming. Our short sale package is designed to explain each step and guide the homeowner in gathering all documents required to ensure a successful transaction.
This post was originally posted on www.millsrealestate.net/blog
If you have questions or concerns regarding short sales, just give us a ring: 863-202-0729
We hope this post Short Sell My Property in Highlands County - Step 1 - Documentation was helpful to you.
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