When Do You Request A Waiver Of Deficiency From The Short Sale Lender?

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

The Sun rising on your new life

Hi folks. Recently I was asked by a Florida Short Sale Agent when should they request a “Waiver of Deficiency” for their Seller. My response was to ask at time of submission and then in all lender correspondence thereafter.


An easy way to ask is to use a Short Sale Submission Letter. Below is the format I use for my Orlando Florida Short Sales.. Use this Short Sale Submission letter to outline the terms of the deal and provide any info you want the Lender to consider. I want this letter to be the first thing the lender sees. If you are faxing or emailing your Short Sale Submission Package just use this as the first page.


If you are submitting through the Equator system then just add this letter to the front of your contract. That way the lender will be sure to see it.


Here’s mine. I hope it helps.



628 Grand Canal Dr Poinciana, FL 34759

PH:407-873-2747 FX: 407-358-5472


Email: BrokerBryant@gmail.com


3 November 2013


LN# xxxxxxxxxxx  


250 Anywhere Dr FL 33880

Borrower: Mr and Mrs Help Me Please


To who it may concern,

Please find following a complete short sale request with supporting documentation. The borrowers are not able to make payments and have no way of keeping the property. Therefore, we humbly request that this transaction is expedited so we can move towards closing and get this file closed and off the books prior to the new year.

Attached are the following documents:

  • Letter of Authorization

  • Listing Agreement

  • MLS Sheet

  • Listing History

  • Showing History

  • Market Analysis

  • Sales/Purchase Contract

  • Buyer’s Proof of Funds

  • Preliminary HUD 1

  • Financial Form

  • Hardship Letter

  • 30 Days Pay Stubs

  • Last 2 Months Bank Statements

  • 2010 Tax Return

  • 2009 Tax Return

  • 4506-T

  • Dodd Frank

My comments:


Mr and Mrs Help Me Please hired my company in October 2011 to assist with their short sale. The property was placed in the MLS and fully marketed on over 500 websites including Realtor.com, Zillow.com, Trulia.com and Homes.com


The property is currently vacant, however, it is being maintained by the borrower. Property values in this area are continuing to decline. The agreed contract price of $140,000.00 is spot on with current market values. Please see the attached Market Analysis.


The buyer is paying cash and can close quickly. We can close this transaction in November if you can give a quick  approval. 


So…on behalf of the Mr and Mrs Help Me Please, I humbly request that Wells Fargo accept this short sale request and relieve them of any future liability.


We are requesting a full Waiver of Deficiency and that this sale be reported to the credit agencies as “Full Satisfaction of Debt”.


Please feel free to contact me with any questions or additional information that you may need.  Thank you in advance for you attention to this matter.



Bryant Tutas


Bryant Tutas


Tutas Towne Realty, Inc



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 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yes think of it as though you are asking a 4 year old hyperactive that can't remember anything.  Always keep it in the conversation.

Jan 20, 2014 11:21 PM #1
Cheryl Johnson
Highland Park, CA

Actually, the Keep Repeating It technique is very helpful in all contract/negotiation stuff.  Gently repeat pertinent points in all correspondence, so the paper trail stays nicely maintained.....

Jan 21, 2014 03:13 AM #2
Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate

Yes, the first time, and every reasonable opportunity afterward makes sense.  There is also much wisdom in giving this item its own paragraph, and not have it buried in a larger one.


Jan 25, 2014 12:14 AM #3
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing. I will bookmark this .

Jan 28, 2014 09:31 PM #4
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