Short Sale Rookie

Mortgage company says I need a form for a short sale. I have searched high and low but cannot find a form with that tite. Can anyone tell me where to find such a form

you need authorization to release information.

So I’m looking for a form with the title “Authorization to release information”?

You don’t have to look for one. Just create one.

Short Sale form?

To tell you the truth, there isn’t one. Chances are you misunderstood them. Here are some options:

She wants a Signature Authorization form signed from the Home Owner.

Another option is she wants a written offer. Banks can’t accept verbal offers on Short-Sales.

Remember that Short-Sales require the Home Owner to be on-board with you. It’s really tough to get a bank on-board with you when you don’t have the Home Owner on-board first.

Make sense?

The bank is not going to speak to you without the authorization.

No wonder I cannot find anything.

The bank discussed this with me because the owner faxed his approval to the mortgage company.

I’m wondering how I can get this done without realtors or lawyers fees.

Just ask the bank all do you need to complete a short sales package.

That is it. They will tell you, after they tell you and you have any more questions. Ask them here. A short sale package is pretty much standard. The only thing that might give you a problem is the hud-1.

Jumping into Short Sales is not for a beginner. Doing this comes one step at a time.

First is to learn the Preforeclosure marketplace and how to do deals in Preforeclosure. Understanding of deeds, Signature Authorizations, Closings, HUD’s, Reinstating Loans, all the paperwork it takes to do a deal.

Understanding what to say to the Homeowner, how not to get ripped off by the homeowner, how to be clear about title and all the encumberances, etc. is just the beginning.

My suggestion is to just bird-dog your first deal, be happy you did a deal. Go celebrate. Next deal, take it step further, learning as you go. You need to be fairly versed in Foreclosures, the process, etc. before even attempting to do Short Sales. If you don’t, Short-Sales will only drive you insane. Those are a whole other level.

I’m not trying to scare you, just helping you to see it’s a huge learning process. Trying to hit a home run and not even understand how to hold the bat isn’t going to work out very well.

At least find a very experienced partner to work the deal together with. Let me teach you as you are doing the deal together, & give him his 1/2 of the deal. You got a great education, did a deal, made some good money, and go get another deal.

That’s my advice.

The problem with that is that I’m looking for a house to live in, not necessarily to make bundles of cash.

I can fax you a copy of an “Authorization to Release Information” form.


Then keep plugging away at, and ask plenty of questions here. In the meantime, don’g over-committ to the Home Owner or the bank unless you know the answer. Nothing will be worse than agreeing to something, coming back here to verify it, and find out you shouldn’t have agreed to do something. Ask lots of questions before each step, so you are clear about each step as you proceed.

Good luck.