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The Short Sale Package

Purpose of the Short-Sale Package

The purpose of the short-sale package is to show the lender:

  • That the seller has a valid hardship that prohibits them from keeping the property
  • The market value of the property
  • That the buyer is qualified
  • The transaction has a reasonable chance of closing

The submission of the short-sale package is determine by lender protocol. The components will generally not change--only the timing when each piece is submitted.

For example, if the lender is going to pre-approve the seller for the short sale prior to getting a contract, much of the seller's information will be submitted at the time of taking the listing. If, however, the lender indicates that they will do nothing until a contract is received then all of the package will be submitted with the contract.

If this is a HAFA-eligible loan, there will be additional paperwork for both the seller and the listing broker throughout the process. The lender will provide the necessary forms and documents, however, the entire program, including standardized forms, can be accessed at

The lender may want it faxed, e-mailed or delivered via hard copy. The listing agent should make a copy of the entire package prior to delivery and follow up to ensure it was received.


  • There can be multiple loans and the process will have to be duplicated for each lien holder.
  • If there is more than one lien holder, they will generally want payoff information from each other.
  • There is a large amount of paper work required for short sales and it is extremely important to complete each task in a timely manner to keep the transaction moving forward.

Contents of A Short-Sale Package