Another in the continuing exercise in San Diego Real Estate Marketing for my Real Estate Principles and Practice Students
San Diego Real Estate Short Sale Expert, Gary Kent, gives his expert advice on short selling your home. In this video, Gary explains the documents needed to complete a short sale in San Diego County.
The short sale documents, that you most likely need to provide to the lender(s) are:
1. 2 years of the most recent federal tax returns, The bank will also require that you sign them
2. 2 months worth of pay stubs for all borrowers on the loan
3. 2 months worth of bank statements on all accounts.
4. Hardship letter showing why you need to short sell your San Diego home, along with documentation. Examples would be, divorce papers, death certificate, disability papers etc.
5. Authorization letter to allow the Gary Kent Team to process a short sale on your San Diego home.
After that, they will require these documents to be kept up to date through the entire transaction. Another form they may require is what is generally called “An arms-length agreement” to make sure that you and the buyer are not related or plotting to cheat the bank with any side agreements.
After they get these documents, one of the next things that they will require is a current valuation to show that your San Diego home is worth less than the loans. To find this out quickly, go to:
www.ShortOrStaySanDiego.com
By Gary Kent
Gary Kent
858-457-5368
Gary Kent Team, Keller Williams Realty
CA License
01864740