Documents Required by Lenders for a Short Sale

The following documents are required by most lenders in order to begin a Short Sale transaction:

Authorization to Release Information

Financial Statement

Listing Contract

Purchase and Sale Agreement

Pay Stubs

Bank statement

Tax returns

Hardship letter

Comparable Market Analysis (CMA)

Some lenders might require additional documents hence incomplete short sale packages will cause the bank to either delay the approval of the short sale or deny it, this is why it’s important to gather up all the necessary paper work and submit with the buyer’s offer.

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