What to Expect from Your Lender When You Ask for a Short Sale

What to Expect From Your Lender When You Ask for a Short Sale
What to Expect From Your Lender When You Ask for a Short Sale

What to Expect from Your Lender When You Ask for a Short Sale:

When you approach your lender to request a short sale, you can expect them to carefully review your financial situation and the details of your property. They will likely request documentation to support your claims of financial hardship, such as bank statements, pay stubs, and tax returns. Your lender will also conduct a thorough appraisal or home inspection to determine the current market value of your property. If they agree to a short sale, they will negotiate with the buyer’s agent to determine the sale price and terms. While the process of requesting a short sale can be daunting, it is important to remember that your lender is ultimately motivated by their desire to recover as much of their investment as possible. By being honest and forthcoming about your financial situation, you can work together to find a mutually beneficial solution.

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