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What Documents Do You Need For A Short Sale...Checklist

By
Real Estate Agent with Goran Utvic Real Estate Broker/Construction Consultant 475.132942

What Documents Do You Need For A Short Sale...Checklist  

Short Sale sign in yardThese are documents that a realtor needs in order to start the short sale process. Remember not all homeowners qualify to short sell their home, with these documents a determination can be made as to whether or not you are eligible.  

  • PROOF OF INCOME(PAYSTUBS,SOCIAL SECURITY AWARD LETTER,PROFIT AND LOSS STATEMENT IF SELF-EMPLOYED)
  • MOST RECENT MORTGAGE STATEMENTS BOTH FIRST AND SECOND
  • ALL LETTERS RECEIVED FROM LENDER/SERVICER
  • 2009 & 2010 TAX RETURNS
  • COPY OF UTILITY BILLS
  • REAL ESTATE TAX BILLS
  • PROOF OF HOMEOWNERS INSURANCE
  • TWO MOST RECENT BANK STATEMENTS
  • HARDSHIP LETTER

  If you have any questions about the short sale process and eligibility send email to: shortsales@ILbankhomes.com

Wendy Betts
RE/MAX PROGROUP - SOUTH DELTA /SOUTH SURREY & WHITE ROCK - Tsawwassen, BC
South Delta & S. Surrey Realtor

...can you belive that even though we Canadians live withing miles of the US Border in most major centers - the word SHORT SALE isn't even a consdideration in our Real Estate deals... Find your list very similar to any mortgage app.  Cheers, Wendy Betts - Vancouver BC

(PS - sorry about those Black Hawks - Brent Seabrook went to school with my daughter...)

May 05, 2011 05:53 PM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great idea! Thanks for sharing this checklist of yours!

May 09, 2011 06:29 AM
Goran Utvic
Goran Utvic Real Estate Broker/Construction Consultant - Chicago, IL
Chicago 2 Flat Specialist

Wendy - Luz - Will - Some homeowners believe that anybody can qualify for a short sale...with this list we can tell the homeowner whether or not it is possible.

It sure is like qualifying for a home loan only the bank is looking for the exact opposite...where for a loan everything has got to show good...credit, income, etc. For the short sale the bank is looking for missed payments, decreased income, etc.

May 10, 2011 07:35 AM
Goran Utvic
Goran Utvic Real Estate Broker/Construction Consultant - Chicago, IL
Chicago 2 Flat Specialist

Wendy - Hopefully the Bulls will makeup for the Black Hawks!

May 10, 2011 07:36 AM
Mark Peek
Roseville Rocklin Real Estate - Keller Williams - Roseville, CA
Peek Real Estate Group - Roseville CA Real Estate

Nice post.  Many lenders are requiring 4506-t now so I added that my short sale package recently as well. 

May 29, 2011 06:45 AM
Goran Utvic
Goran Utvic Real Estate Broker/Construction Consultant - Chicago, IL
Chicago 2 Flat Specialist

Mark - Thank you. I don't know why they would need to see a sellers tax return to approve a short sale, the files just keep growing!

May 29, 2011 09:37 AM
Goran Utvic
Goran Utvic Real Estate Broker/Construction Consultant - Chicago, IL
Chicago 2 Flat Specialist

Chicago Foreclosures - Chicago Real Estate Listings - Short Sale Opportunities homebuyers looking to buy in the Chicago real estate market can find excellent Chicago foreclosure deals here and information on how to sell a home with a short sale.

Jul 05, 2011 03:12 AM