REQUIREMENTS OF A SHORT SALE PACKAGE - ORANGE COUNTY SHORT SALE SPECIALIST

All of the documentation needed to start a short sale is commonly called a "Short Sale Package" and is usually submitted by the investor interested in the property, the Realtor representing the seller, or the seller of the property. The package usually includes the following items:

Sample Short Sale Package (items may vary depending upon the lender):

• Cover Letter

• Authorization to Release Information

• Sellers Hardship Letter

• Seller's Financial information

• two years of current W-2's

• One month of current pay stubs

• two months of most recent bank statements

• Supporting Hardship Info - HOA liens, medical/disability statements etc.

• Repair Estimate for the property - If repairs are needed

• Comparable sales for the property

• Purchase Contract

• Estimated HUD

• Second mortgage holder may ask for a payoff amount from the 1st

• Lender may ask for proof of delinquent taxes

• FHA and VA may have their own forms and special requirements as well

If you hire an experienced short sale Realtor they will handle all of the above for you.

Short sales are free of charge to the seller. The lender will pay all the fees needed for the sale to move forward.

www.orangecountyshortsalerealtor.com

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