Short Sale Package
The following items will be requested by your short sale lender upon initiating a short sale transaction:
Item |
Source and/or Purpose |
|
You may prepare yourself or with the help of your agent |
|
|
Authorization to communicate |
Borrower authorizing agent to communicate with lender |
|
Listing agreement |
Initiated by your listing agent at time property is put on the market |
|
MLS Input Sheet |
Prepared by your listing agent once the property is in the MLS system |
|
Purchase agreement |
Prepared by your listing agent or cooperating agent in the sale |
|
Prequel letter for new buyer |
From the agent representing the new buyer |
|
Proof of funds for new buyer |
From the agent representing the new buyer |
|
Copy of initial deposit |
From the agent representing the new buyer |
|
Seller financial worksheet |
You may prepare it yourself, or with the help of your agent |
|
Income tax returns (2 years) |
Prepared by income tax preparer |
|
Two most recent bank statements |
|
|
If self-employed, Pt & L statement |
Usually prepared by CPA or bookkeeper |
|
Copy of rental agreement |
If your source of income is rental, you need to supply rental agreements |
|
One month of check stubs |
|
|
Prepared by income tax preparer |
|
|
Hud1 (estimated) |
Prepared by Escrow company |
|
HAFA (short sale) |
Ask lender for their HAFA application to participate in HAFA short sale |
|
Arms length transaction affidavit |
From lender or from your agent |
