When to send a short sale package to the lender(s)?

So we've heard both arguments about sending the short sale package in for approval prior to having an offer or waiting until you have an offer to submit...What is your experience out there? How is everyone else doing it?

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Permalink Reply by Jeff Payne on July 10, 2011 at 5:02am
Wait for the offer and send the ENTIRE package in at one time. Many (most) of the lenders are not going to talk to you unless you do have an offer.  One of the major components of the package is the offer
Permalink Reply by Eric Mieles on July 10, 2011 at 7:38am

Must agree!! Full package, clean, well put together and making sure you dont miss on the details: 2nd page of tax return signed, most recent info since you may have had the package put together when you got the listing, RMA if doing HAFA, utility bill....on and on!!

Permalink Reply by Smitty on July 11, 2011 at 1:40am
I agree with Jeff.  I wait until I have the offer.  I MAY fax in the authorization and the QWR as soon as it's signed, but everything else I wait until I have the purchase contract in hand.
Permalink Reply by Jeff Payne on July 11, 2011 at 1:54am
+1, forgot to say to fax authorization in :)

Smitty said:
I agree with Jeff.  I wait until I have the offer.  I MAY fax in the authorization and the QWR as soon as it's signed, but everything else I wait until I have the purchase contract in hand.
Permalink Reply by Christina Conrad on July 11, 2011 at 4:40am
We submit all of our ss with offers....Jeff is right,,,the offer is the key element...We do mostly ss that are already in f/c, so without a valid offer on the table we have no hope of getting a postponement or cancellation of the f/c without an offer...my personal opinion is you are wasting your time by submitting a ss without an offer..it will just sit there until you submit one
Permalink Reply by Mellissa Young-Ramirez on July 11, 2011 at 9:25am

I prefer to submit when there is an offer, as I see it, unless the bank specifically tells me otherwise, I assume it makes the lender's job a little smoother and easier and it makes mine more efficient.

Permalink Reply by Kimberley Kelly on July 12, 2011 at 2:19am
I tried submitting a pkg. before an offer years ago..it was a disaster.  I work my files, have everything in order, then when the offer comes, submit it as part of the pkg.  Can you imagine giving the Lenders even more options, and or opportunities to loose things??  I'm sticking to my submitting WITH an offer..

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