6 Critical Questions to Ask the Lender Before Starting a Short Sale

Short sales are easier when you have the answers. Are you asking your seller’s lender the right questions?

Short sales can fall apart fast — especially when key details are missed upfront. Asking the right questions builds the foundation for a successful transaction and helps avoid delays or denials.

Avoid These Short Sale Killers: Ask the Right Questions First

Before you begin, ask the seller’s lender:

1. What type of loan is it?
   FHA, VA, USDA, Conventional, Reverse, Fannie Mae, Freddie Mac — each has different timelines and document requirements.

2. What’s the loan status?
   Is it current, delinquent, or in foreclosure? If there’s a sale date within 45 days and no offer, the lender might not even open a file.

3. What’s the mortgage balance?
   This confirms it’s actually a short sale.

4. Who’s on the mortgage?
   You’ll need signatures and financials from all borrowers.

5. Do you accept electronic signatures?
   Some lenders still require wet signatures — ask early.

6. Is there a short sale packet?
   Most lenders have their own forms (UBAF, RMA, MMA) that must be submitted.

Asking these six questions up front can save time, stress, and lost deals.

Need help with a short sale listing?
Call Ross Gahagan at 717-648-0675 or visit MyShortSaleLink.com.