How to Request a Short Sale

2. How to Request a Short Sale

If you are facing foreclosure and are considering selling your home as a short sale as an out, get in touch with a trusted real estate professional immediately. They will be able to assist you in the process of requesting to short sell your home.

  1. Your real estate agent will most likely tell you that some banks will not allow a short sale to happen. Contact your lender’s loss mitigation department and speak with a supervisor. Explain your financial situation and ask if you qualify to sell your home as a short sale.
  2. Ask the supervisor what documents you’ll need to proceed and make copies of those. (Depending on the lender this could be anything from bank statements, tax forms, pay stubs, etc.)
  3. Ask your real estate agent to come up with a comparative market analysis report to show your lender how much the home is worth based on home sales in the area.
  4. Write a letter of financial hardship detailing the reasons you are no longer able to make payments on your home.
  5. When you’ve completed all the aforementioned necessary paperwork, compile it together and mail it to your lender’s loss mitigation department.
  6. Pending your short sale application approval, request a deficiency release from the bank. The release absolves you of any obligation to pay the balance on the mortgage. If the bank refuses, continue to press the issue.


Do These Real Estate Tips Really Apply to YOU?

We've learned these tips through years of experience as top Realtors. But we know that YOUR situation might be different. That's why we're here.

It's our job to personally advise homebuyers and sellers. Ask us if any tip that we've included here really applies to your situation.

If you have any questions about these tips - or other tips you may have heard elsewhere - ask us! We'll respond quickly, for free, and without obligation...

Do any of these tips raise questions for you? Didn't find what you're looking for? Let us know! We am happy to answer ANY questions. It's our job! There's no obligation, and We promise to get back to you quickly...



 

turk_photo_expert.gif
 

The Turk Team
Keller Williams Biltmore Partners
2920 E. Camelback Road #100
Phoenix, AZ. 85016
Cell: 602-369-0007
Office: 602-553-4347
Fax: 602-553-4409
Email: Brad@TheTurkTeam.com

As a Phoenix native and lifetime resident Brad Turk's knowledge of the area and local community is one of his strongest assets. Brad has built a solid reputation for success by understanding what home really means. If you asked a group of people to define what home means to them, you might be surprised at their answers - they would be as diverse as the people themselves. Home means different things to different people - it's where you live your life, nurture your dreams, and reap the rewards of a lifetime of hard work. Handling every detail with ease and expertise, Brad's successful real estate transactions are the result of strong negotiating skills, market knowledge and industry experience. Add innovative marketing, fresh concepts, and a genuine understanding of the real estate process, and you will quickly see why Brad Turk and The Turk Teamconsistenly deliver results that exceed client expectations. Honest, passionate and dependable, Brad Turk and The Turk Team are the consummate real estate professionals who can handle all of your real estate needs. Whether you're moving around the corner or across town, if it's time to move on with your life...it's time to call The Turk Team.


About You

Additional Info