Minnesota Short Sale Process
Step by Step Procedures of a Short Sale
1. Have a phone consultation to discuss a possible Short Sale and review the differences of a Short Sale vs. Foreclosure. This is also important to determine the financial hardship as this is the main criteria that banks look at in the approval process.
2. Sign a listing agreement and gather all appropriate financial paperwork from the seller(s). These forms are necessary to get the Short Sale started and the banks will also require them at the time of an offer. They include forms such as….
- Listing agreement paperwork
- 3rd Party Authorization Form…sent to each lender.
- Bank Statements
- Pay Check Stubs
- Hardship Letter
- Tax Returns
3. Take pictures and have a key available for the lockbox.
4. Have the property ready to be shown to prospective buyers.
5. My professional negotiating team and attorney will present and negotiate the offer with the lenders.
6. Continue negotiating with the lenders to get them to accept a Short Sale on the property.
7. Obtain an approval letter from each lender involved.
8. Go to closing…move on with your life and start re-establishing credit..!!
Call or email today for a confidential conversation.
763-242-6303
Rob@MnShortSaleExpert.com
