Short Sales are complicated transactions.
You should work with an experienced short sale listing agent who has been successful with working with banks and asset managers.
A short sale expert can help prepare a detailed short sale approval package that would include
- personal financial information requirements
- BPO (broker price opinion)
- Comparative Market Analysis (CMA),
- work hand in hand with a savvy title company to prepare a net proceeds sheet after cost of sale,
- can inform the seller that there are other possible options prior to a short sale including, loan workout, deed in lieu of foreclosure or foreclosure
- Understand what types of offers the bank is most likely to accept
Please note, there are other options to explore first. If a short sale is your last resort, make sure you seek legal advice first.
After that contact a short sale professional so the process is smooth, timely and done correctly
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