Looking for information on Short Sales in the Dallas/Fort Worth Area?
To complete Dallas, Texas short sales successfully, you have to maintain good communication with the bank and provide them with the information they ask for. You can expect each bank to have a different set of forms that you should fill in, but there are also documents required by all institutions:
- A hardship letter, dated and signed;
- Copies of your pay stubs for the last two months;
- Your financial worksheet, dated and signed;
- Copies of your tax returns for the last two years;
- If self-employed, copies of your p&l statements;
- Copies of bank statements for the last two months;
- Copies of the investment account statements;
- Copy of the listing agreement;
- Your estimated net sheet;
- A list of eventual liens on your property.
You should hire a lawyer to guide you through the process of providing this information when you are involved in Dallas, Texas short sales.
Perhaps your property cannot be sold through a short sale procedure. In this case, it may be subject to foreclosure by the bank. It is important to maintain a good relation with the bank, so that you can count on them to advise you on your remaining options and give you the information you need.
Completing a short sale means that there will be no foreclosure related to your credit. Furthermore, when you file a lending application and you are asked if one of your properties was foreclosed, you are entitled to give a negative response. This is one of the few advantages of being involved in a short sale.
When your property is subject to a short sale, you should get a real estate team to assist you, because Dallas, Texas short sales procedures can be quite challenging and should be handled by professionals.
Contact the Short Sale Experts of Dallas today to get help now. 972-265-4391