Tried and True Steps in Submitting a Short Sale Package
Determine if the client is in the process or has declared bankruptcy
Copy of the not to determine type of loan and prepayment
Signed Authorization from Seller to Realtor and First Centennial
Hardship Letter
Back up Documentation for Hardship
Financial Statement if provided by the lender
Federal Income Tax Returns – two years back
W-2’s for two years
Bank statements for three months (check, savings, mutual funds)
Paycheck stubs – last three for each mortgagor
Benefits i.e. disability, unemployment, retirement and/or social security
Listing agreement
Purchase Contract
Comparables if required
Marketing efforts…how long listed, what prices, condition of property
Settlement Statements—Estimate of proceeds – showing $-0- to Seller
Copies of any invoices supporting figures on settlement statement
Junior lien holder’s balance or releases
When faxing in the documents, be sure you include the loan number on all pages. At the bottom of each page please write the page number of the total number of pages sent (page 5 or 105).
Suggest these be sent in smaller packages to avoid jamming.
Ask if the Lender would prefer to receive via Federal Express as this could be tracked.
Lender may want to know the value of mortgagor’s 401k or retirement benefits.
A huge amount of patience is a necessity during the course of this process.
Need to sell – but owe more than your property is worth? We can help! With one of the highest success rates in closingNevada Short Sales, the Coldwell Banker Wardley Brokerage is on your side.
Visit http://www.ShortSaleInNevada.com or Call 702-604-7739 to sell your property today.
*To Receive your FREE Nevada Short Sale Kit – please send an email with your:
1. Property address, full name, phone and e-mail to sold@yournevadaagents.com .
2. Loan Amounts if you know them and who they are with (ex. Bank of America, Wachovia etc.) – Do Not Send Account numbers in your e-mail.
3. No Obligation, No Hassle, Free Consultation IF you desire.
