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Short Sale Items needed

 


 

Below you will find the required documents needed to process any Short Sale. Incomplete packages are the number one reason why Short Sales fail.

 

List of Required Income Documents:

  • W-2 Employee:Last 30 days pay stubs (1 for monthly; 2 for bi-weekly; 4 for weekly)
  • SelfEmployed: Most recent YTD Profit & Loss Statement
  • Proof of Other Income:Social Security, Pension, Disability award letter, Proof of Alimony, Child Support, or any other source of income

 

Asset documents required:

  • Last 60 days of Primary Checking account, all pages (even the ones that say, “Intentionally Left Blank” or that have a page number on them.
  • Any Retirement or 401-K account reflected on pay stubs.

Tax documents required:

  • Last 2-yrs tax returns, all schedules
  • If most recent tax year was granted an extension, the seller must provide the proof of extension mailed by the IRS.

Hardship Letter:

  • Typed letter explaining the reason seller fell behind on payments. This letter should clearly explain the steps leading up to the hardship (Usually 3-5 paragraphs)
  • View Sample Hardship Letter

 

Letters of Explanation:

If seller (s) does /do not have or cannot provide any of the above required documents, they must document in writing (signed and dated) a detailed explanation of why. 

 


agent photo
Marquis McCrimmon, [Team Lead] 
The McCrimmon Home Team
of Bennett Realty Solutions

Marquis McCrimmon - Agent with Exit Bennett Realty

7701 Greenbelt Rd
Greenbelt MD 20770
Phone: 301-246-2323  

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