First off I would like to give you the definition of a short sale from a banks eyes-

" A short sale is a work out program that allows the customer to sell the home for less than total amount owed. Upon final approval, a short sale can help homeowners avoid further collection activity or foreclosure action."

What is need to make a short sale happen? Here are some the documents need-

• Fully executed listing agreement (From Realtor)
• Signed and dated financial worksheet listing all monthly expenses. (Seller)
• Signed and dated hardship letter stating why you, the seller, are unable to pay the mortgage. (Seller)
• Letter authorizing the Realtor access to information on the account. It must be dated and include the last 4 digits of the borrower's Social Security Number, their signature, the full account number and the property address. (Seller)
• One month bank statements are ofter required (Seller)
• Paycheck stubs are often required (Seller)
• Market Analysis is required by some banks (Realtor)
• Purchase and Sale (Buyer)

This is just a brief list of what is or can be required to make a short sale happen. As a Realtor experienced in doing short sales I will help you acquire the necessary documents to make a short sale happen, including the most important document, a purchase and sale!!!!  Remember, without a purchase and sale there won't be a short sale!!!

For more information on short sales give me a call or email me anytime.