What Goes Into A Short Sale Packet?

So you want to know what goes into a short sale packet? This is just as important to any buyer as it is to a seller looking to sell their home for less than what they owe on their mortgage. Unfortunately, there’s no absolute answer for this because each lending institution may require their own forms be filled out.

However, there are basic items that are required which help to jump start the process in the right direction. I will talk about what I will call the “gaguuts” of any short sale packet. What you do with the information is up to you. I, of course, know how to use the information to my advantage to save myself, my clients and customers time when analyzing any short sale situation.

What goes into a short sale packet?

Blood, sweat and tears. And that’s no joke. Let me make one thing very clear to any buyer reading this: Homeowners going through this process are not enjoying it. It’s important to understand that when you go to buy a short sale, it’s not for the faint of heart. It’s tough and you cannot expect all the stars to align.

That being said, a positive attitude will go a long way towards helping you relax, for both the buyer and the seller and the real estate agent(s) and attorneys involved.

So that’s the next thing that goes into a short sale packet. Positive attitude! Without it, you’re doomed to have a miserable time trying to sell/buy the home. Now phony “positivity” will get you no where.

However, what helps a positive attitude bloom is knowledge. If you’re dealing with a real estate agent, at least one, who knows what they’re doing, then that’s a plus in the right direction. If there’s more than one agent involved and both know what they’re doing, that’s even better. If you’ve got an attorney on board who understands short sales and has the means to effectively negotiate swiftly with lenders…the thought makes me smile.

Luckily, if you’re reading this, you’re one step closer to this positive energy. Call me and let’s get started!

Okay so you’re looking for the nuts and bolts of the matter. What documents go into a short sale packet, that’s what you’re asking.

Well for the purposes of maintaining my value as a short sale expert, providing that information here would defeat the purposes of me earning your business. Too many times, people go on the internet, in my humble opinion, and google something, like perhaps, “what goes into a short sale packet”, only to find what they’re looking for, but not have the first clue on how to implement it, understand it, and get the result they’re looking for.

When my toilet breaks, I call a plumber. I don’t google “how to fix a toilet”, because what I’ll get is a mess. Without the knowledge and experience of a good agent and an attorney familiar with short sales, that’s what you’ll end up with…a mess.

I can help you sell or buy your home via a short sale, please call me at (631)831-9048.
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By Thomas McGiveron, LSA

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