What is required from a homeowner to complete a short sale?
#1) Complete Forms & Compile Documentation
Upon our initial meeting, we will cover the required forms and essential documentation to complete a short sale. We will complete the “Authorization to Release” and the “Short Sale Addendum”. We will leave the “Homeowner Documentation Checklist” and the “Homeowner Financial Worksheet” as homework to be completed within the week.
#2) Agree to “Win the Beauty Contest”
Selling in today’s market requires winning the price war and the beauty contest – even for short sales. You may be required to make repairs or cosmetic improvements before putting the home on the market. The home must always be clean and presentable for showings.
#3) Make the Home Accessible
Realtors should be able to show the home on short notice. Team Bohannon will not market a short sale that is occupied by a tenant.
#4) Be Available & Responsive
Be ready to sign and return offers and documents promptly. Time is always of the essence in these transactions. Your assistance may be needed in communicating with the lender(s) at certain times.
#5) Stay Positive
For people who play by the rules and who have never been late on payments, going through a foreclosure or a short sale can be mentally draining. Do not become discouraged or despondent, as most Tam Bohannon short sales are successfully completed. Maintaining a responsive and positive attitude toward everyone involved is essential.
For more information on the benefits and consequences of short sales, call Team Bohannon today. Doug Bohannon and Dale Bohannon are Certified Distressed Property Experts (CDPEs) who have special training in issues surrounding short sales and foreclosures.
- by Dale Bohannon with credit to CDPE materials
