Short Sale Flow Chart



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Short Sale Flow Chart

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Homeowner Accepts Offer, Ratifies Contract Subject to Lender Approval

Homeowner Makes Decision to Sell Property and Apply for Short Sale Approval

Homeowner Prepares “Package”

• Letter of Authorization

• Hardship Letter

• Listing Agreement

• CMA

• Preliminary HUD1

• Assets/Liabilities

• Bank Statements

• Tax Returns

• Pay Stubs

• Mortgage Statements

Homeowner Submits “Package” to Lender for Approval.

Homeowner Lists Property with Century 21

Contract Submitted to Century 21 Settlement Services For Processing.

Lender Denies Short Sale

Lender Approves Short Sale

Lender Makes Additional Requirements

Century 21 Settlement Services Prepares Preliminary HUD1

Settlement Day at Century 21 Settlement Services.

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