Replies to This Discussion

Permalink Reply by Jan Sanderlin on January 25, 2012 at 10:51am

It is very helpful to have the short sale pack complete when submitting, you can list the property before submitting...Just know that you will have to update the info as you move through the process to final negotiation and approval...I also require all of the short sale docs upfront. It is test to see how committed sellers are to getting the property sold.  Once you have that offer and are submitted...Sellers generally check out mentally if not before...so front load your docs and get them done and sitting in your file.  There will be some clean up docs at the end, just get the bulk upfront before you waste 2 months with a non responsive seller...

Permalink Reply by Barbara J. Rice on January 25, 2012 at 11:03am

No, they do not require you submit financial docs first. You can go ahead and list first if you want.

If it might be a HAFA short sale though everyone would probably benefit by contacting Citi first and getting into HAFA review. It shortens the time for the buyer (not needing to wait for HAFA review) and it can be a great marketing tool ... pre-approved HAFA short sale.

Good luck!