Get the free Short Sale Listing Package 1 - The Edgington Group

Print Form Short Sale Listing Package Fillable Form Quick-Fill Licensed Agent Name: Dan Eddington Licensed Phone Number: 800-509-5803 Date of Listing: Full Address: Full Mailing Address: Seller 1

How to fill out short sale listing package

1. Familiarize yourself with the required documents: Before you begin filling out the short sale listing package, make sure you know which documents are needed. Typically, you will need to include a financial statement, hardship letter, listing agreement, purchase contract, and various financial documents such as pay stubs, bank statements, and tax returns.
2. Prepare the financial statement: Start by completing the financial statement form included in the listing package. This form requires you to provide detailed information about your income, expenses, assets, and liabilities. Be sure to be thorough and accurate when filling out this form, as it will help the lender evaluate your financial situation.
3. Craft a compelling hardship letter: The hardship letter is a crucial component of the short sale listing package. In this letter, explain in detail the difficulties you are facing that have led you to request a short sale. Be honest, concise, and compelling, as this letter will help the lender understand the reasons behind your financial hardship.
4. Sign the listing agreement: The listing agreement is a contract between you and your real estate agent, giving them the authority to market and sell your property. Review the agreement thoroughly and make sure you agree with all the terms before signing.
5. Include relevant financial documents: Gather all necessary financial documents to support your short sale application. These may include recent pay stubs, bank statements, tax returns, and any other documentation that showcases your current financial situation.
6. Complete the purchase contract: If you have already received an offer on your property, include the purchase contract in the listing package. Fill out all the required fields and ensure that all parties involved have signed the contract.
7. Submit the completed package to your lender: Once you have filled out all the required forms and gathered all supporting documents, submit the short sale listing package to your lender. It is important to follow their specific instructions and provide all requested information to increase the chances of a successful short sale.

Who needs a short sale listing package?

1. Homeowners facing financial hardships: A short sale listing package is typically needed by homeowners who are struggling to make mortgage payments and are unable to sell their property for an amount that covers the outstanding loan balance.
2. Real estate agents: Real estate agents working with homeowners in distress will often require a short sale listing package in order to properly market and sell the property.
3. Lenders and banks: Lenders and banks require a short sale listing package to evaluate the homeowner's financial situation, determine if a short sale is the appropriate solution, and assess the potential loss they may incur.

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What is short sale listing package?

Short sale listing package is a collection of documents and forms required to be submitted by a seller attempting to sell their property for less than what is owed on the mortgage.

Who is required to file short sale listing package?

The seller of the property is required to file the short sale listing package.

How to fill out short sale listing package?

The short sale listing package can be filled out by the seller with the help of a real estate agent or attorney.

What is the purpose of short sale listing package?

The purpose of the short sale listing package is to provide information about the seller's financial situation and the property being sold.

What information must be reported on short sale listing package?

Information such as the seller's financial documents, property details, and a letter explaining the need for a short sale must be reported on the short sale listing package.