Some sellers hem and haw, and have trouble pulling everything together for your appointment. They say that they will send the missing documentation through e-mail or via fax today or tomorrow. However, I think it’s always best to collect complete package as quickly as possible.
There are a few reasons to collect this information at the listing appointment. The first is so as to not put an undue burden on the short sale seller later in the process. Everyone has read in the newspaper and on the Internet about how slow and challenging the short sale process can be. However, if all of the pertinent information is collected in one sitting and sent to the bank in an organized manner at the very beginning of the short sale process, you have the added benefit of a much more quick and efficient short sale transaction.
Some Escondido short sale sellers often ask if they can send the hardship letter later in the process. While I understand that many folks have a very full plate of activities, it is vital that the short sale is packaged correctly (which means collecting complete documentation). Submitting bits and pieces of the short sale package to the lender through multiple faxes does little to improve the speed of the short sale negotiation; in fact, it may hamper the speed in which the short sale approval letter is obtained.
A Realtor® has a fiduciary obligation to their client. In the case of a short sale listing, it is the obligation of the agent to get the job done as quickly and efficiently as possible. In order to do that, Escondido short sale sellers must supply their short sale documentation thoroughly and completely. This will help the short sale close smoothly—helping buyers, sellers and all other parties to the transaction to see a successful closing.