San Diego – My Short Sale Guide Blog Series – Short Sale Package The San Diego Short Sale Package
The documentation required to process a San Diego short sale is commonly referred to as a “Short Sale Package” and is usually submitted by the agent representing the San Diego home seller or the seller of the property themselves if they are attempting to do the short sale on their own. Here’s a sample short sale package:
* Note that items may vary depending upon the lender.
Cover Letter.
Authorization to Release Information Sellers Hardship Letter
2 years W-2’s.
2 months pay stubs.
2 months bank statements.
Supporting Hardship Info –
HOA liens, medical/disability statements etc.
Repair Estimate for the property (when necessary).
Comparable area sales Listing &
Purchase Contract(s).
HUD-1 net sheet (provided by escrow). First mortgage holder may ask for a payoff amount from the 2nd (obtain pay-off statement from lender).
Second mortgage holder may ask for a payoff amount from the 1st (obtain pay-off statement from lender). Lender may ask for an Initial Title Report. FHA and VA may have their own forms and special requirements as well.
If you plan to work with a San Diego real estate professional and can have your last two years tax returns as well as past two months bank statements and pay stubs together with your hard ship letter and authorization to release information statement for them at your initial meeting you’ll give them a running head start and they will love you! Call
San Diego short sale specialist Gary Kent at 858-457-5368 for a quick confidential analysis of your situation.
San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.
To find out how much your home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com
The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.