Elkhart Real Estate Agent Evelyn Johnston Reports Short Sales Tips for Sellers, Part 2

By
Real Estate Broker/Owner with Friends & Neighbors Real Estate RB14036506

Elkhart Real Estate Agent Evelyn Johnston with Prudential One Realty continues her short sales tips for sellers.  In part 1 I urged you to consider a loan modivication first, click here to read the first post.

If a Loan Modification is not available to you and you are considering a Short Sale, make sure you research, interview and google the names of the REALTOR(r)'s you are considering to represent you in this complex process.  Look for experience in all aspects of Short Sales. Hiring a qualified REALTOR(r) is your first step.  After you have selected one:

  • Begin gathering documentation before any offers come in.  Your lender will give you a list of documents it requries to consider a short sale.  The short sale package that accompanies any offer typically must include:

               1.  A hardship letter detailing your financial situation and why you need the short sale.

               2,  A copy of the purchase contract and listing agreement

               3.  Proof of your income and assets

               4.  Copies of your federal income tax returns for the past two years.

               5. A Letter of Authorization for your Lender to speak with your REALTOR(r)

I posted a series of tips on the entire short sale experience, you can read it here, part 1, part 2, part 3, part 4, part 5.

If you are in need of answers to your Mortgage Payments, call Evelyn Johnston at 574-304-7148 for your confidential conference.

 

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