• Seller's Questionnaire - Click Here for an example
  
  
• Proposal Letter: I will draft this from the information that you provide to me in the Seller's Questionnaire
  - Click Here for an example
  
  
• Seller's Hardship Letter -  Click Here for an example
  
  
• Account Authorization; this give me the authority to speak to the bank on your behalf
  - Click Here for an example
  
  
• Short Sale Payoff Application (provided by your lender)
  
  
• Seller's Financial Statement/Budget.  Very simply; a list of assets and liabilities.  Can be in the form of a spreadsheet or a statement from your bank or software program.  Examples include:
  • Assets: Real Estate, stocks, bonds, mutual funds, bank account statements, retirement accounts, etc.
  • Liabilities: Real Estate loan(s), personal loans, credit card debt/statements, IRS liens, judgments, lawsuits, etc.
  • Misc. expenses: Utilities, car payments, insurance costs, food and clothing, medical bills, child support, tuition, HOA liens, etc.
    
    
• Seller's Financial Information.  These items are typically the same required by a borrower when applying for a loan.  At least the past 2 months.
  • Pay Stubs for each person on the loan(s)
  • W-2s and Tax Returns
  • Bank Statements and credit reports
    
    
• Comparative Market Analysis (CMA): I will do this research and compile the data.
  
  
• Repair Estimates for the Property: I can help you with this.
  
  
• A Listing agreement to list your home on the MLS.  I will draft this for both of us to sign.
  
  
• A Purchase Agreement from a qualified buyer for your home.
  
  
• A HUD-1 (Seller's Netsheet): I will have the title company provide this.

Some things to remember as we go through this process together:

• This entire proccess, from beginning to end, can take anywhere from 45 days to 6 months in some extreme cases.
  
  
• Continue saving all of your financial information and statements that you receive in the mail even after we complete the short sale package.  The bank will ask for the latest information after a negotiator is assigned.  Also, if the first buyers back out for any reason, we will have to resubmit the short sale package with updated financial information.
   
• Continue paying your HOA dues if you live in an Community with an HOA.  The transaction cannot be completed without the HOA documents and if you stop paying your HOA dues, then there will be no way to obtain the documents with a delinquent payment on your account.
  
  
• If you file for Bankruptcy before we close escrow, then everything will be cancelled and all of the efforts will be nullified.  Please decide if Bankruptcy is a viable option for you BEFORE we start this proccess.
  
  
• What happens to your Credit After Foreclosure, Bankruptcy, or Short Sale?  Check out this FAQ:
  Credit After Foreclosure or Bankruptcy or Short Sale.pdf
  
  
• Taxation of Foreclosures and Short Sales