What Documents Do You Need For A Short Sale...Checklist

What Documents Do You Need For A Short Sale...Checklist  

Short Sale sign in yardThese are documents that a realtor needs in order to start the short sale process. Remember not all homeowners qualify to short sell their home, with these documents a determination can be made as to whether or not you are eligible.  

  • PROOF OF INCOME(PAYSTUBS,SOCIAL SECURITY AWARD LETTER,PROFIT AND LOSS STATEMENT IF SELF-EMPLOYED)
  • MOST RECENT MORTGAGE STATEMENTS BOTH FIRST AND SECOND
  • ALL LETTERS RECEIVED FROM LENDER/SERVICER
  • 2009 & 2010 TAX RETURNS
  • COPY OF UTILITY BILLS
  • REAL ESTATE TAX BILLS
  • PROOF OF HOMEOWNERS INSURANCE
  • TWO MOST RECENT BANK STATEMENTS
  • HARDSHIP LETTER

  If you have any questions about the short sale process and eligibility send email to: shortsales@ILbankhomes.com

Comment balloon 8 commentsGoran Utvic • May 06 2011 12:49AM

Comments

...can you belive that even though we Canadians live withing miles of the US Border in most major centers - the word SHORT SALE isn't even a consdideration in our Real Estate deals... Find your list very similar to any mortgage app.  Cheers, Wendy Betts - Vancouver BC

(PS - sorry about those Black Hawks - Brent Seabrook went to school with my daughter...)

Posted by Wendy Betts, South Delta & S. Surrey Realtor (RE/MAX PROGROUP - SOUTH DELTA /SOUTH SURREY & WHITE ROCK) over 7 years ago

Great info, I have found that many lenders also want to see a financial analysis worksheet for sellers.

Posted by Luz Ibarra Ceballos, Love where you live! (Realty ONE Group) over 7 years ago

Great idea! Thanks for sharing this checklist of yours!

Posted by Will Nesbitt, Nesbitt Realty is a family-run brokerage. (Nesbitt Realty at Condo Alexandria) over 7 years ago

Wendy - Luz - Will - Some homeowners believe that anybody can qualify for a short sale...with this list we can tell the homeowner whether or not it is possible.

It sure is like qualifying for a home loan only the bank is looking for the exact opposite...where for a loan everything has got to show good...credit, income, etc. For the short sale the bank is looking for missed payments, decreased income, etc.

Posted by Goran Utvic, We Buy & Sell Chicago Houses Fast (606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656) over 7 years ago

Wendy - Hopefully the Bulls will makeup for the Black Hawks!

Posted by Goran Utvic, We Buy & Sell Chicago Houses Fast (606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656) over 7 years ago

Nice post.  Many lenders are requiring 4506-t now so I added that my short sale package recently as well. 

Posted by Mark Peek, Peek Real Estate Group - Roseville CA Real Estate (Roseville Rocklin Real Estate - Keller Williams) over 7 years ago

Mark - Thank you. I don't know why they would need to see a sellers tax return to approve a short sale, the files just keep growing!

Posted by Goran Utvic, We Buy & Sell Chicago Houses Fast (606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656) over 7 years ago

Chicago Foreclosures - Chicago Real Estate Listings - Short Sale Opportunities homebuyers looking to buy in the Chicago real estate market can find excellent Chicago foreclosure deals here and information on how to sell a home with a short sale.

Posted by Goran Utvic, We Buy & Sell Chicago Houses Fast (606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656) over 7 years ago

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