If you are considering a short sale your lender will require a list of documents that will need to be faxed with your offer. This is known as a short sale package.
Here is the typical list of documents required by most lenders.
- Hardship letter (explanation of why you need a short sale)
- Financial Statement
- Last two months bank statements
- Last two tax returns
- Two most recent pay stubs
- Buyer pre approval letter or proof of funds
- HUD1 or Net Sheet
- Purchase Contract
- Listing agreement and authorization letter if listed by a real estate agent
The actual documents that are required vary from lender to lender. It is worth contacting them to find out exactly what they need and where to send it. Keep in mind if you send them an incomplete package it could delay your short sale approval.