What documentation is required for a short sale?

Short sale properties are sold 'as is', which means the sellers won't do any improvements or act upon any issues found during a home inspection. Mar 26, 2024 ... How Does Short Sale Work? · The homeowner cannot make mortgage payments on the home. · The homeowner contacts their mortgage company to explain ... Oct 16, 2022 ... While a seller typically pays all real estate agent commissions and other closing costs, in a short sale the seller pays nothing; the lender or ... A short sale is when you sell a property for less than you owe (or need to pay off all liens). In order to do this your lender (or lienholder) needs to approve ... Jul 31, 2015 ... Short sales are an option for homeowners who are underwater on their mortgage to sell their property, and to avoid going into foreclosure. If I have a property value that was obtained when I evaluated the borrower for other workout options, can I use the same value for the ... ... real property; or. (xii) advises or offers advice to an owner of real estate concerning the negotiation or completion of a short sale; and. (B) includes a ... Oct 10, 2024 ... According to the North Carolina Bar Association, lenders can expect to receive about 84 percent of a property's fair market value in net ... Short sale in real estate refers to a sale of a house when the sale price is less than the outstanding mortgage on the property. A short sale is one in which the mortgage lender agrees to allow the home to be sold for less than the value of the mortgage.