How do you do a Short Sale?
The foreclosing lender would like to see that every effort has been made to become current on the mortgage or sell the property on the open market. They want to see that it is listed with a dis-interested 3rd party Real Estate Agent at market value to ensure you are trying to get the highest and best price for the property. The lender will want to see a copy of the MLS printout and a recent CMA when an offer is presented to them. The bank will also want to collect from the seller a Hardship Letter, 2 years Tax Returns, 2 Years of W-2′s, Financial Worksheet and a Letter of Authorization just to name a few documents.