Here’s a tip to make your short sale application go a little bit faster. When you ask a lender for a “short sale package,” what you get is (usually) a one-page list of requirements of what you have to put in the package you will submit to the lender with your short sale proposal.

When you receive that information, date it, make a copy of it, and put it in a file under the lender’s name. If you come across another deal with the same lender, you will have their information on file and can begin to gather what they will need as soon as you reach an agreement with the homeowner.

One caution: Always request a new package from the lender with every deal, because their requirements may change. But if you have their old information on file, it’s better than nothing and will give you a head start. Remember, when you’re doing short sales, time is of the essence, so everything you can do to speed things up will help.

Amy Smith
Trainer, Wealth Intelligence Academy
Foreclosure, Lease Option