Yes, there is a lot of documentation required to start a short sale. Lenders simply now refer to this as a "Short Sale Package". Below is a list of the items generally required by the lender. Some do actually require more, but, once again, hiring the right Real Estate Agent is essential, as this person will already have this package ready for you and ease you preparation of it.
Sample Short Sale Package:
- Authorization Letter
- Hardship Letter
- 2 years Tax Information
- The 2 most recent pay stubs
- The 2 most recent months bank statements
- Listing Agreement
- Contract
- HUD-1 Financial Sheet
- Financial Statement Sheets
Again, these things may seem overwhelming, even foreign to you, so speak with your agent, who is experienced in short sales, and much time, effort, and possibly even money will be saved on your side.
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