Mark Lentz Real estate serving Tamarac FL
  1. Mark Lentz
  2. Complete Real Estate Options
  3. Guiding You Through The Real Estate Maze
  4. Office: 954.300.5633
  5. marklentz@completereo.net

Do I Qualify To Complete A Short Sale?

 

If you are thinking of completing a short sale the first step is to find out if you qualify.

 

Not anyone can qualify to complete a short sale. In order to qualify you must meet two criteria’s.

 

The first is that you have a “hardship” and are able to prove it. A hardship can be in many forms. A few examples are:

  • Unemployed
  • Underemployed
  • Bankruptcy
  • Divorce
  • Death in the immediate family
  • Your job is transferring you out of the area.

 

The second criteria is that you owe more then what the home is worth.

 

If you meet those two criteria’s a lender package would have to be completed and submitted. Lender packages vary from lender to lender. A typical lender package asks for a proof of your hardship, an executed listing contract, bank statements, tax returns, and W-2’s. They may also require an estimated HUD-1.

 

In addition the lender may require a comparable market analysis (CMA) to justify the sale price.

 

Complete Real Estate Options and our staff are experienced in completing most lenders packages. We are affiliated with a title company who will supply the needed title documents (HUD-1) and have over 20 years experience in completing CMA's. Let Complete Real Estate Options walk you through the short sale maze.

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