Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I have been marketing my home fore sale under the HAFA Short Sale option and received an offer. Now what do I do?

April 26, 2017FORE hafa Home Marketing Offer option received sale short

0

Posted

I have been marketing my home fore sale under the HAFA Short Sale option and received an offer. Now what do I do?

1 Answer

0

Posted

When you receive an offer from a buyer, you will need to send a completed Request for Approval of Short Sale (RASS), Form 1136, to your lender along with the following: Executed sales contract, including all addenda • Buyer’s documentation of funds or buyer’s pre-approval or commitment letter on letterhead from a lender • Copies of all documentation indicating that subordinate lien holders have agreed to release their liens and the borrower from liability • Preliminary HUD-1 Settlement Statement Your real estate agent should help you complete and send the RASS. Once your lender has received your RASS and corresponding documentation, they will respond to you within 10 business days.