What is Short Sale Package?
A short sale package is the bundle of documents a homeowner submits to the lender to request approval to sell for less than what is owed. It typically includes the hardship letter, financial statements, recent pay stubs and bank statements, tax returns, a listing agreement, and the buyer's purchase offer. A complete, accurate package speeds up the lender's review.
Example: Before the bank will consider the offer, the agent assembles the short sale package — hardship letter, pay stubs, tax returns, and the signed purchase contract — and submits it for review.