10 Items Needed for a Short Sale

Lenders Must Approve Buyer's Offer in a Short Sale

Lenders Must Approve Buyer’s Offer in a Short Sale

When you decide to short sale your home, every lender will ask for the same 10 documents before approving a short sale.

Homeowners turn to Alma Korshak, owner of Short Sale Facilitators, to help them negotiate the short sale of their home. Alma wants to understand your situation and review your paperwork so she knows how best to represent you in the negotiation with your lender. Short sale negotiation can be difficult, but gathering all the necessary paperwork in advance will get you ahead of the game.

The lender will require a detailed understanding of your financial situation and the financial hardship you are experiencing. You must prove your hardship to the lender. You are asking them to take a loss on the amount of money you owe them so it is your responsibility to explain your financial situation.


These 10 items must be included in the short sale package delivered to the lender.

1.  Verification of Pay

  • Last 2 months pay statements showing year-to-date earnings
  • Unemployment wage page (if unemployed)
  • Social Security Benefit Letter (if on unemployment)

2.  Tax Records

  • Last Two Years Tax Returns
  • Last Two Years W-2 forms

3.  Copy of Mortgage Statement

4.  Copy of Monthly Utility Bills

5.  Last 2 Months Bank Statements – all pages even if blank

6.  Homeowners Association (HOA) form

7.  Hardship letter stating why you cannot pay your mortgage

  • Divorce decree if divorce is the reason in the hardship letter
  • Death Certificate if death is the reason in the hardship letter

8.  Form 710, Uniform Borrower Assistance Form

9.  HUD-1 Settlement Statement

10. IRS 4506-T – Request for Transcript of Tax Return (Required by some lenders)

There are also other documents required that concern the specifics of the property and the contracts you have signed with a realtor to sell your property. This assures the lender the sale is following all standard real estate procedures.

Your realtor provides some of these forms and the short sale facilitator that negotiates your short sale with the lender will order some.


  • Listing Agreement – The agreement between the seller and the listing agent contracted to list the home as a short sale
  • Contract Agreement – This is the contract stating the intent of the buyer to purchase the property.

Short Sale Facilitator

  • Title Search or Property Tax Records

Every Short Sale is Different

Short Sale Facilitators meets with all their clients to understand the specifics associated with their short sale property. Conditions such as second mortgages, liens against the property, unpaid HOA fees or property taxes all influence the short sale negotiation, the timeframe of the sale and the paperwork required.

After seven years of only negotiating short sales, Alma Korshak understands the process very well. She knows what roadblocks to expect and how her negotiation tactics may need to differ from one lender to another.

If you have questions about listing your property as a short sale and do not know how to get started, help is just a phone call away. Call Short Sale Facilitators in Casselberry, FL at 321-397-5505 to schedule an appointment.

Short Sale Facilitators. The Power of Negotiation.


Hablamos Español

Contact Us:

950 S. Winter Park Dr., #352

Casselberry, Florida 32707


321-397-5535 (fax)