#3 Put Together A Well Organized Short Sale Package
Your Idaho real estate agent should provide you with a list of the lender’s requirments and At a minimum, the lender will want to see:
* Your hardship letter;
* A balance sheet listing your monthly income and expenses, or a profit and loss statement;
* Statements from your checking, savings and other asset accounts;
* A net sheet from your Idaho real estate agent listing all of the closing costs that must be paid for your short sale to close;
* A current Market Analysis (CMA) or a Broker Price Opinion (BPO)
* Supporting documentation, including two months’ worth of paycheck stubs and all of your household bills, including HOA dues;
* Your last two federal income tax returns.
* The offer to purchase your home, including the buyer’s preapproval letter, once it is received.
Best to turn in package that is complete otherwise you could end up on the cutting room floor. Many bank staffers are over worked and will only look for well put together short sale packages. Trust me they want to work easier not harder, they do not want to come back for left out items that will only cause your short sale to become buried a under huge stack of growing short sale files. Get on top first this is very important.