Short Sale
| A short sale offers a way out of debt and leads to a fresh start |
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What is required for a real estate short sale?
In order for us to get a real estate short sale accepted for you, we must first list your home for sale. During the listing period you will need to provide the following documents to us so that we may package a real estate short sale request to your existing mortgage lenders.
Documents required for a real estate short sale?
Please gather the following:
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- Last two years tax returns with W-2’s and any tax schedules
- Most recent two months of pay stubs
- Most recent two months of bank statements for all your accounts, including retirement accounts, 401k.
- Current mortgage payment coupons for existing mortgages.
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Who can qualify for a real estate short sale?
Typically, the mortgages lenders will only accept a real estate short sale if you are at least one month behind on your mortgage payments, have a ready and willing buyer and you are unable to debt service all of your existing liabilities. Also, if your financial situation has changed and you are currently making less money than before and you have no more savings, you most likely qualify for a real estate short sale. This is the reason why we need to above documents to paint a clear financial picture.
How can Realty 1 Team help?
- Protecting your credit form further damage
- Present a solution to the lender and negotiate favorable terms
- Allow the borrower and his/her family to get a fresh start
- Expedite the process with a fast resolution
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