I am working on a short sale for one of my listing clients.  One of the first steps I take is to send in an Authorization to Release Information Form which allows the lender to speak with me about my customers account.

That process may take up to a week. 

Today I called to verify they have me authorized and requested a copy of their short sale documentation checklist.  They immediately faxed me two forms.

Form One is the documents they will require:

1. Financial Worksheet
2. Current proof of income report (2 recent pay stubs from all mortgagors)
3. A letter explaining the borrowers hardship
4. A copy of the borrowers most recent tax returns (1040 form, first 2 pages)
5. Listing agreement
6. Signed purchase agreement or sales contract
7. Seller net sheet or Hud-1 Statement
8. Buyers Pre-qualification letter from the lender or if cash purchase, proof of funds from the bank.

Form Two is the Financial Worksheet.  You can see both forms in this Adobe PDF attachment.   Wells Fargo Short Sales Package

Now, my job is to find a buyer for the property.  When we have an executed contract all of this info will be sent to the lender and the negotiations will begin.

(Copyright © 2007 By Dan Forbes, All Rights Reserved.)

Please contact me, Dan Forbes, or call if you have questions about or our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326.  Visit my web site BradentonFloridaRealEstate.com  

This entry was posted on Tuesday, November 27th, 2007 at 3:26 pm and is filed under Bradenton Real Estate, Short Sale. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.