How to Short Sale My Home

How to handle a real estate short sale on your house.

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due.  Because of the complexity involved in a short sale, it is advised to consult a real estate professional.  Real estate agents and short sale specialists are typically your best bet.  These professionals have established relationships with all the major lenders and can give you insight about the financial and legal obligations.

In a short sale, you will need to provide documentation to your lender.  Typically the lender will want to see a hardship letter, financial statements, tax statements, purchase contract, listing agreements, and paystubs.  A short sale realtor or professional short sale investor will be able to help you collect these documents and create a short sale packet.

The short sale packet needs to be submitted to the lender’s short sale department where it can take weeks to process.  A short sale is anything but short.  In fact, many short sales can take 3,6, or even 9 months to complete.  Expect a long drawn out process.

As you can see, the short sale process should not be handled yourself.  Find a professional short sale specialist in your area that has a proven track record.  Short sales are specialty, not something that every realtor can handle.  It takes months of time and effort plus specialized negotiation skills to get a short sale completed.  Talk to the short sale experts today!

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1. Should I short sale my home?
2. How to Sell Your Home Fast with a Short Sale
3. Short Sale vs Foreclosure, Why a Short Sale is Better
4. How to do a Mortgage Short Sale on your House?