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If a homeowner is facing foreclosure and wishes to explore short selling their home as an alternative, it is crucial to get help from a trusted real estate agent. With the agent’s help, this is how the homeowner will prepare to short sell their home:

1. Agreement. The homeowner must get the lender to agree to sell the home at a loss.
2. Documentation. If the lender agrees to a short sale, the homeowner will need to provide documentation to the lender indicating that he or she is financially incapable of paying for the loan. It depends on the lender, but the documentation usually required can include:
   • A hardship letter explaining why the homeowner is unable to pay the mortgage.
   • Recent tax return forms, W2 forms, and/or 1099s.
   • Recent paystubs.
   • Financial statement detailing list of assets and liabilities.
3. Consultation. The last thing a financially stressed homeowner needs is more financial stress. The homeowner should consult with an attorney to find out whether or not difference between what the home is worth and what the home sells for will be taxed.
4. Communication. Everyone needs to communicate during this process. The homeowner needs to communicate with the lender to make sure the lender has everything needed to apply for the short sale. The homeowner and the lender need to be in constant contact with potential buyers to make sure they stick around.

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Valerie Core
Capstone Homes Realty
532 W. Wulfenite Rd
Flagstaff, AZ 86001
928-607-4344
Fax: 928-779-0815
valeriecore@NUMBER1EXPERT.com

Regardless of how many homes I sell I never cease to feel satisfaction of providing only the highest levels of service and integrity to my clients. I will work hard to find the home that fits your needs in everyway, as well as protecting your interests when you find it time to sell a property. The happiness of knowing that I am making the Real Estate Process an enjoyable one for my clients is obviously true source of my satisfaction that drove my decision to focus my energy in the Real Estate industry.

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