11 items needed for a short-sale.

Considering selling your house by asking your lender to accept a short-sale?  Where exactly do you begin? One of the key factors in the outcome of a short sale is the Short Sale Package. This package is so important; acceptance from the lender depends on it.

Listed below is the paperwork required to successfully negotiate a short sale:

1. Authorization that your Realtor can Negotiate on your behalf
2. Signed Listing/Sales Contract
3. Broker Price Opinion
4. Preliminary HUD-1
5. Hardship letter; why you need a short-sale
6. 2-3 months of bank statements (W2, 1009, tax returns, etc.)
7. Budget: list of expenses and income
8. Photographs of interior and exterior of house
9. Repair estimates
10. Most recent comparables: Actives, Expireds, Pendings and Solds
11. Local headlines related to current market conditions.