Short Sale Flow Chart Homeowner Makes Decision to Sell Property and Apply for Short Sale Approval
Homeowner Lists Property with REALTOR®
Homeowner Accepts Offer, Ratifies Contract Subject to Lender Approval
Contract Submitted to Mid-Atlantic Settlement Services For Settlement Processing
Lender Denies Short Sale
Lender Makes Additional Requirements
Lender Approves Short Sale
Homeowner Submits “Package” to Lender for Approval.
Homeowner Prepares “Package” Letter of Authorization Hardship Letter Listing Agreement CMA Preliminary HUD1 Assets/Liabilities Bank Statements Tax Returns
Mid-Atlantic Settlement Services Prepares Preliminary HUD-1
Settlement Day at MidAtlantic Settlement Services!