Stage 1

Stage 1 - Consultation & Document Collection

The first step is scheduling a consultation with one of our short sale professionals. During the consultation, a short sale professional will answer all your questions and discuss your qualifications for a short sale. The qualifying questions will be specific to your current situation. We need to gain understanding of the details which support your cause for a short sale and what you are looking to accomplish with regards to the property. If you attempted to negotiate unsuccessfully in the past, we will touch on that as well.

After careful thought and consideration, if you have decided that a short sale is the most beneficial decision, you will be required to sign our third-party authorization form along with a host of disclosures which can be found on our website. The authorization will allow our short sale processing team to speak with your lender about your account on your behalf. Net Short Sale will perform a lender interview to get specific account details regarding the current foreclosure status as well as inquire about any potential upcoming sale dates.

Additionally, you may be asked to submit financial documentation required by your lender. Documents may include but are not limited to: 2 most recent tax returns, 2 most recent bank statements, pay-stubs, mortgage statements, and/or other documentation applicable to your current source of income.

A hardship letter written by the seller will need to describe the undergoing circumstances, describing why they are no longer able to continue with their financial obligation to the lender. Banks want to see a compelling explanation as to why they should take a loss on the mortgage by letting you short sell the home. The reasons should be both frank and honest in their disclosure to the lender.

Once all proper documents are gathered, our processing company will reach out to your lender and initiate the Short Sale process.