How do I start short sale?
If you are in default and decide to short sale your home vs forclosure, notify your lender that you are planning on short saling your home. From there, obtain a real estate agent in your area who has experience in processing and mitigating a short sale.
Do I pay my real estate agent to process and mitigate the short sale?
Most agents will not charge to process a short sale. Both the buyer and sellers agents are paid from the proceeds of the sell...
A buyer submitted an offer on my home, what should I do?Your agent should go over the contract with you if all looks good he will submittg to the lender. The lender will request some information from you including a short sale packet that you should be able to find on their website. (see below for most common requested information)a)
a)w-2
b)last 2 pay stubs
c) bank statement
d)hardship letter
e)T4506 form
f)Authorization letter
How long does a short sale take?
Once all required documentation is submitted a decision is typically completed within 90 days. Common reasons decisions may be delayed include low offers for your property or not submitting requested documents on time.
Ainsley Daux
Lic Realtor
Home Run Real Estate inc
ainsley.daux@gmail.com
www.homerunrealestate.com
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