Necessary items needed to create a "complete package" that is sent to the lender(s).
2. Authorization from the Seller that allows the agent to speak and negotiate on the seller's behalf.
3. Seller's Hardship Letter. A letter from the seller describing the circumstances that are preventing the seller from paying on the loan.
4. Seller's Financial Information. A detailed list of all the monies coming to the seller and all the monies that are paid out by the seller.
5. Tax returns. The last two years Federal and if necessary State tax returns.
6. Pay Stubs. The last two months pay stubs.
7. Bank Statements. The last two months bank statements from all financial institutions where you have assets.
8. Any documents that support your request for a short sale. This is not a complete list, but may include Medical conditions and disability statements, any liens against the property, divorce, loss of job, death of a loan payer, etc.
9. Purchase contract fully executed.
10. Listing agreement.
11. Comparable sales in the area.
12. Net Sheet listing the net amount available to the lender(s).
13. If the seller is self employed then the lender(s) will require a profit/loss statement.
14. Lenders can also ask for any additional documents to substantiate your request.
