I have 2 properties in Virginia that I need to short sell. Need agent to sell property or investor who knows how to do the deal.
Do you qualify for a short sale? What are the reasons?
Question: Are you the owner of the property? Need more info to guide you.
Basic Contents of a Short Sale Package
The following is a basic outline of what you want to include in a successful short sale package:
Cover Letter
Authorization to Release Information
Sellers Hardship Letter
Seller’s Financial information – most banks have a form for this however I use a standard form initially with all sellers (an example can be found here)
Supporting Financial Information:
2 years w2’s
2 months pay stubs
2 months bank statements
Supporting Hardship info – for example HOA liens, medical statements, disability statements
Repair Estimate for the property – if you can develop a relationship with a contractor for this it adds credibility
Comps for the property
Contract
Net Sheet
Additional information that may be asked for:
The first mortgage holder may ask for a payoff amount from the 2nd
The second mortgage holder may ask for a payoff amount from the 1st
Initial Title Report