Are you considering completing a short sale with your Tucson real estate agent, you’ve heard about the short sale package you need to submit and are now wondering what documents need to be included in the short sale package? Tucson real estate agent Shawn Polston with Keller Williams Southern Arizona would like to help you get started on the process of compiling documents for your short sale package. We’d also like to mention that if completing a short sale it is imperative you work with a Tucson real estate agent that is familiar with short sales and is current on processes to ensure that you are submitting the correct documentation.
A majority of lenders often require the same financial documents for their short sale package. These documents include bank statements, most recent paystubs, W-2s and tax returns for the previous two years. Tucson real estate agents say that some lenders also have their own specific forms that are required when submitting the short sale package. Also required by most lenders is the hardship letter. This is a letter written by the homeowner that outlines their situation and answers questions for the lender such as why they need to short sale and why they feel it is the best option for their situation. Tucson real estate agents can give you tips and pointers on writing the hardship letter as well as provide you with examples.
Submitting the short sale package is one of the most important pieces of the puzzle when completing a short sale. You want to ensure that everything submitted is complete and accurate or it could delay the processing of your short sale transaction. Again, this is one of the main reasons why it is so important that you work with a Tucson real estate agent that knows short sales. They can keep your short sale from facing any unnecessary roadblocks and make the process as seamless as possible.