How Do You Gather Information For Real Estate Short Sale?
When applying for a short sale with your bank or lending institution the home buyer will need to gather requested information for the bank. Selling your house at a price that is lower than your mortgage balance will be challenging. Investing the time to be sure you get an approval without undue delay will greatly benefit your efforts. When starting s short sale of your home you must have the proper documents required by your bank or lending institution. Contact your financial institution’s loss mitigation department to get an exact list of the requirements for selling your home. Being properly prepared when submitting your short sale offer will greatly increase your chance of avoiding foreclosure. Ask your Realtor for a legible copy of your listing agreements, any modifications to your agreement; such as price reductions and the sales agreement signed by both you, the seller, and the new home buyer. The loss mitigation process can only start after you have a pending contract with a hom
