2. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale "package" that accompanies any offer typically must include:
- A hardship letter detailing your financial situation and why you need the short sale
- A copy of the purchase contract and listing agreement
- Proof of your income and assets
- Copies of your federal income tax returns for the past two years
- Copies of your last 2 pay stubs
- Authorization for agent to speak with bank on your behalf
- Copie of your last 2 months bank statements
AND... most impaortant make sure your agent is a Certified SHort Sale specialist.... without the knowledge to work with banks this prcess can be a nightmare so get an agetn with SHORT SALE experience.
If you have any questions on short sAles feel free to call or email me. I am always happy to answer questions.
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