Having to sell your home short? Check out Short Sale Tips

Short Sale Tips

(Requirements may vary depending on the lender)

•·    Cover Letter - prepared by Real Estate Professional

•·    Authorization to Release Information - signed by Borrower

•·    Seller's Hardship Letter - prepared by Seller

•·    Seller's Financial Statement - Form 1126 Borrower's Financial Information   http://www.freddiemac.com/sell/forms/pdf/1126.pdf

•·    2 Years W2 Forms - provided by Seller

•·    2 Month's Pay Stubs - provided by Seller

•·    2 Month's Bank Statements - provided by Seller

•·    Supporting Hardship Information - provided by Seller
(HOA liens, medical/disability statements, prior income proof, prior tax returns, etc.)

•·    Repair Estimate for the property if needed - prepared by Real Estate Professional

•·    Comparable Sales - prepared by Real Estate Professional

•·    Listing or Purchase Contract - provided by Real Estate Professional

•·    Net Sheet - prepared by Escrow Closer with Pre-title & Escrow setup.

•·    Payoff amounts from additional mortgages - provided by Seller

•·    Preliminary Title Report - obtained from Title within 24 hours. (please specify short sale)

•·    Lender Specific Forms - contact Lender for additional forms they require.