For my clients that will be listing their home with the Croom Team as a short sale, we will need the following items before the home is listed on the MLS. Print a copy of our Short Sale Document Checklist for Sellers here.
1) Hardship letter- Please type an explanation of what has brought you to your current financial situation and your desire to sell the home. This must be signed and dated by all borrowers and state that you want to do a short sale.
2) Copy of your most recent tax return.
3) Form 4506 T- This allows the bank to request copies of your past tax returns and can be printed by clicking on the following FORM 4506T .
4) If you are currently living in the property, a copy of the most recent utility bill that is in your name. If you are renting the property, a copy of the current lease.
5) 3 months bank statements from all checking and savings accounts. Do not hit print on your browser of just the webview, print the actual statement, or go into your bank and ask for copies of your statements.
6) Last 30 days of pay stubs. Or your current profit and loss statement if you are self employed (MUST be signed and dated).
7) Financial worksheet. Please make sure this is completely filled out and detailed. This is how the bank will calculate your debt to income. Wells Fargo Financial Worksheet , Bank of America Financial Worksheet , Chase Financial Worksheet and Short Sale Package Information, and USAA Financial Worksheet and Short Sale Package. If your mortgage company is not listed here, please contact me by email at brandi@thecroomteam.com or call me at 907-317-1992 and I will get you the worksheet specifically for your mortgage company.
Most banks will not even begin to consider a short sale without every document on this list being included. It will take some work on your part as a seller to round all the information up in a timely manner but it is absolutely necessary!
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