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smithsara302 · Joined: 12 Jun 2009 Posts: 116 -2.38 Dollars($)

What is a short sale net sheet?

archie14p · Joined: 16 Aug 2009 Posts: 66 0.29 Dollars($)

Short sale net sheet is a documents needed by the lender from the borrower before they agree on a short sale. The net sheet will show the what price the lender is expectng for the perticular property

adrianlee1971 · Joined: 13 Sep 2009 Posts: 53 -0.17 Dollars($)

A short sale net sheet is one of the documents needed by the lender from the borrower before they agree on a short sale.

ross090909 · Joined: 04 Sep 2009 Posts: 82 -0.31 Dollars($)

A short sale net sheet is one of the documents needed by the lender from the borrower before they agree on a short sale.

Short sell net sheet will include following things-
1) Price for the property the seller expects.
2) Costs of the sale.
3) Late fees.
4) Real estate agent commissions.

Closing attorney will prepare the short sale net sheet.

Other documents required by the lender for a short sale are:

1) A hardship letter explaining about finantial troubles for borrowers.
2) Bank statements, income and assets should be disclosed to the lender in good faith. The lender will be interested in any other real estate you might have, as well as in any savings accounts.Present finantial situation description.
3) House appraisal.
4) Potential purchase agreement showing how much you were offered by a potential buyer.

The lender may ask for account activities. They will also want to know if there is any undisclosed cash offered by the buyer to the seller. The lender is likely to negotiate certain terms on their own and refuse paying for some items.

pettybob1 · Joined: 07 Sep 2009 Posts: 37 0.24 Dollars($)

The short sale net sheet will show what price for the property the seller expects, including costs of the sale, late fees and real estate agent commissions. The short sale net sheet will be prepared by your closing attorney.

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