Short Sale Tips


We offer the following services helping you through the process of the Short Sale!

  • Assist in Obtaining All Lender Required Documents for Short Sale (Bank Statement, Tax Returns, Etc.)
  • We Provide the Lender and You with a Complete Preliminary Settlement Statement Including Taxes, Prorations, HOA Fees, ETC.
  • Rush Title Search
  • Order Payoffs of Lien/Judgements
  • Provide Constant Contact with the Lender and Keep You Updated on the Status with Weekly Correspondence

All this at no additional costs to you or your client!

We customize our services to best fit your needs!


When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreClose; moreover, not all sellers nor all properties qualify for short sales.

Although all lenders have varying requirements and may demand that a customer submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.

Call the Lender
You will need to speak to someone in the LOSS MITIGATION DEPARTMENT or LOAN WORK OUT DEPARTMENT

Submit Letter of Authorization
Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, title company and/or attorney, the lender will be more cooperative if a letter is given to the lender with permission for them to talk with the specific interested parties about your loan.  The letter should include the following:

  • Property Address
  • Loan Number
  • Your Name
  • Date
  • Your Real Estate Agent’s, Title Company’s and/or Attorney’s Name, Company Name and Contact Information

Preliminary Settlement Statement
This is an estimated closing statement that shows the sales price you expect to receive and the costs of sale, closing costs, state stamps, real estate commissions, any unpaid taxes or HOA dues, etc. Your title agent can prepare this for you.

Hardship Letter
This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment.

Proof of Income and Assets
Lenders will want balances of savings and checking accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or assets of tangible value.

Copies of Bank Statements
Typically Lenders require a 3-month review of all bank accounts.

Listing Agreement and MLS Printout Sheet
Your real estate agent can provide this to you.

Purchase Agreement (Sales Contract)
When you reach an agreement to sell, the lender will want a copy of the fully executed offer. The lender may renegotiate terms of contract, such as commissions, fees, and refuse to pay for items such as home warranties and home inspections, termite inspections and other items.


  • Letter of Authorization (We Will Provide This to You)
  • Listing Agreement
  • MLS Printout
  • Purchase Contract
  • Hardship Letter (We Can Provide Examples)
  • Bank Statements (Past Three Months)
  • Two Years of Tax Returns
  • Pay Stubs (Past Three Months)
  • Estimated Settlement Statement (We Provide This for You)
  • Buyer Pre-approval Letter (Within 60 Days) or Proof of Funds (If Cash Offer)
  • Financial Statements

Each lender typically has their own documents and forms required for the short sale.  Contact our office – We know what each individual lender requires.



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