Pre approval with shortsale package???

Do you need to send a pre-approval letter or any proof of financing when you are sending the lender your shortsale package?

Comments(1)

  • TheShortSalePro3rd June, 2003

    I do, and most mortgagees that are asked to seriously consider a short sale application and Proposal will require it.

    In my opinion, it's best to address their possible objections and concerns early on.
    After the Seller completes and submits the boilerplate application, your Proposal should be compelling, and contain supportive documents including proof that you (Purchaser) are capable of completing the sale as promised. They won't want to waste their time on a hope, wish, or a prayer.

    You'll want to read my upcoming article (an excerpt) from a book by the same title, "In their shoes..." which describes the importance of understanding the needs of all parties to a short sale.

    If your proposal(s) address those needs, you'll be successful more often than not.

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