Short Sale Process
Step 1: Contact your lender.
Call your lender and indicate you want to conduct a short sale of your home. Ask your lender to send you a Short Sale package.
Step 2: Gather information and documents.
Your lender will require that you submit a short-sale package, including a variety of financial documents, such as tax returns and account statements, along with a hardship letter detailing why you can no longer make your mortgage payments. When the time comes, the package you submit to your lender must also include your sales contract with a buyer and an estimate of net proceeds from the sale of your home, based on that contract. Of course, we’ll be happy to help you prepare these documents and any others your lender requires.
Step 3: Contact us.
We’ll schedule an appointment meet with you and view your property so we can estimate your home’s current market value and discuss your financial situation to determine whether you meet your lender’s requirements for a short sale.
Note: Since we are the buyers you do not need to do anything to our home to make show ready.
Step 4: Submit your short-sale package to your lender.
We’ll help you gather the offer and all required documents for the comprehensive short-sale package to submit to your lender. If the lender is open to your short sale, they will contact their foreclosure department to put a hold on foreclosure proceedings.
Step 5: Go to closing/settlement.
If all goes according to plan, you’ll reach the closing/settlement table to sign final documents transferring the property to its new owner and satisfying your obligation to your lender.