Documentation Required For a Short Sale

Roger Schwartz and Sherri Schwartz
HOMESMART
3131 E. Camelback Rd
Phoenix, AZ 85016

Office: 602 451-5363
Fax: 866 277-1792
Cell: 602 390-0083

RogerRealtor@cox.net
Sherri503@cox.net

Typical Documentation Required For a Short Sale Package

"What we do today, right now, will have an accumulated effect on all our tomorrows" -Gen. Norman Schwartzkopf

This paperwork is not hard to deal with. It is straight forward. The seller will need to provide the following papers.

2 months pay checks or write a note that they are unemployed. Self employed should provide a profit & loss statement for the quarter.
2 month checking account statements.
Hardship letter ( These are brief and we have templates).
Your last 2 Tax Returns (The first 2 pages of each return is all they need) - or sign a 4506-T tax authorization for the bank to get them from the IRS).
Fill out a standarized Monthly Expenses Statement including assets.

Click for a Sample Expenses Statement

The rest of the paperwork is supplied by the listing agent:

Listing Agreement
Purchase Agreement and all the addendums plus the buyer's pre-loan approval
Third Party authorization for the seller
The HUD "Statement of the closing costs on the sale"
Preliminary Title Report regarding all liens on the home.