Short Sale on Market before Bank Approval


#1

Can I start a short sale on a home before Bank approves the process? My client is in a hurry to sell and should do a Short Sale.


#2

You need to get a letter of authorization to talk to the lender on your client?s behalf.? A simple letter from your client giving them permission to speak to you on their behalf will work.? Make sure the letter includes the names of everyone on the loan, property address, loan number, social security numbers of everyone on the loan, and the date. It must be signed by everyone on the loan. ?Once you have that call the lender and get their ?letter of authorization? fax number and fax the letter to them. Most lenders have the?letter uploaded in 48 hours.? Once they have authorization to talk to you, you can find out if they will allow a short sale.? If they will ask what they want included in their short sale packet and list the property. They will tell you what to do from there.? Remember though, your client must have a hardship to be eligible for a short sale. ???