While many lenders will have varying requirements and may demand that a borrower submit different types of documentation, the following should be treated as a guideline of what is required in a pursuing a short sale.

Contact Your Lender Immediately: 

You need to make the effort to find the right person responsible for handling a potential short sale. You want to talk to person in charge of loss mitigation for the lender, you want a supervisor's name, the name of the individual capable of making these kinds of decisions.

Submit a Letter of Authorization: 

Your lenders will not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, Title Company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. You should include the following information: name, address, loan number, third party agents involved and contact information on both the agents and yourself.

A Preliminary Estimate of Your Lenders Proceeds: 

A preliminary HUD-1 settlement statement that indicates the sales price you are under contract for and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your third party agent (realtor, title company or lawyer) should be able to prepare this for you. The bottom line should not indicate any net proceed to the seller.

Your Circumstances, In The Form of a Hardship Letter: 

A complete description of the facts that brought you to financially challenging situation and why you have a valid reason for the lender to accept less than full payment. Lenders can understand many circumstances are unavoidable, loss of job, death, divorce, etc., but they are not very compassionate to situations involving dishonesty, misrepresentation or criminal (or criminally negligent) behavior.

A Complete Financial Statement: 

Be truthful about your current financial situation and disclose your assets and liabilities. Provide information on savings accounts, money market accounts, stocks or bonds, cash, real estate or anything of tangible value. Your lender will need to be assured that you cannot pay back any shortfall in the short sale transaction.

Proof of Valuation: 

Many homeowners caught by the current downturn of the real estate market have lost significant equity in their home. This should be part and parcel as to why you cannot sell your home for enough to pay off the existing lien. You need to substantiate this value to the lender through a proof of valuation. In declining value to the lender you could present a fully completed appraisal, a comparative market analysis (CMA) or a broker’s opinion of value.

Your Purchase Agreement and Listing Agreement: 

The lender should want a copy of the executed offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to allow payment of certain items such as home protection plans or seller concessions inspections.

If your package is complete, the facts are accurate and the circumstances speak for themselves, the lender will approve your short sale. Within the ongoing communications and negotiations, you should ask that the lender not report any adverse credit references to the credit reporting agencies, although they would be under no obligation to accommodate this request.

 

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3395 Miller Drive
Ladson, SC 29456
Ridgewood
Residential

MLS# 17024122 / Active
3 br, 2 ba, 1 half bath, 1720 sqft

Huge Corner lot. Great location with water and sewer. House needs some work and is being Sold AS IS. Central Air Conditioning is not work and on... 

More Details

$185,000
Provided courtesy of Carolina One Real Estate

436 Ashburton Drive
Goose Creek, SC 29445
Devon Forest
Residential

MLS# 17023621 / Active Contingent
3 br, 2 ba, 1 half bath, 2060 sqft

Welcome home to 436 Ashburton Drive located in the desirable Devon Forest! This beautiful 2-story home with FROG is nestled within a cul-de-sac and... 

More Details

$194,918
Provided courtesy of Carolina One Real Estate

530 Barfield Drive
Summerville, SC 29485
Walnut Farms
Residential

MLS# 17023456 / Active
5 br, 3 ba, 3545 sqft

Motivated Seller!!!!! Make an offer QUICK on this Wonderful home in a very desirable neighborhood with large wooded lot. Fantastic 5 bedrooms and 3... 

More Details

$395,000
Reduced -$84,000
Provided courtesy of Miler Properties, Inc.

302 Swamp Fox Lane
Goose Creek, SC 29445
Foxborough
Residential

MLS# 17022569 / Active Contingent
4 br, 2 ba, 1184 sqft

Great opportunity to own a 4 bedroom 2 bath home in Foxborough! 

More Details

$135,000
Provided courtesy of Charleston Homes

2603 Stith Avenue
North Charleston, SC 29405
Waylyn
Residential

MLS# 17022117 / Active
3 br, 1 ba, 1 half bath, 1503 sqft

**Calling All Investors! Income-Producing Short Sale Opportunity!** This is One of the Largest Homes in the Neighborhood.**It Includes Two Outbuild... 

More Details

$84,900
Provided courtesy of Keller Williams Realty Charleston

112 Poplar Street
Moncks Corner, SC 29461
Residential

MLS# 17021854 / Active
4 br, 2 ba, 1966 sqft

SHORT SALE-we have already completed the short sale process and this could close quickly at the asking price. The home needs repairs and updates t... 

More Details

$195,000
Provided courtesy of The Real Estate Firm

450 Doane Way
Charleston, SC 29492
Beresford Commons
Residential

MLS# 17020666 / Active
3 br, 2 ba, 1 half bath, 1314 sqft

Spectacular 3 bedroom town home, end unit on the pond! Spacious town home and a large screened porch over looking the pond make this a great choice... 

More Details

$165,000
Reduced -$5,000
Provided courtesy of Charleston Homes

452 Brick Kiln Drive
Summerville, SC 29483
Branch Creek
Residential

MLS# 17020037 / Active
4 br, 2 ba, 1 half bath, 2368 sqft

Welcome to this newly built 4 bedroom, 2.5 bath well appointed home on a quiet street backing up to a wooded lot. A two car attached garage welcom... 

More Details

$264,900
Reduced -$5,000
Provided courtesy of Brand Name Real Estate

25 Kenilworth Road
Goose Creek, SC 29445
Willowbrook
Residential

MLS# 17019471 / Active Contingent
3 br, 2 ba, 1750 sqft

This one is full of potential. Spacious well laid out home in Goose Creek that is ready for your touch. Home features a large family room just of... 

More Details

$110,000
Provided courtesy of Exit Realty Lowcountry Group

104 Stratford Drive
Summerville, SC 29485
Kings Grant
Residential

MLS# 17018806 / Active
4 br, 3 ba, 2745 sqft

THIS BRICK COLONIAL IN KINGS GRANT IS GREAT FOR A LARGE FAMILY LOOKING FOR SPACE.OPEN BRIGHT FLOORPLAN WITH HARDWOOD FLOORS AND CERAMIC TILE HAS A ... 

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$259,900
Provided courtesy of Harbins Two, Inc

206 Oxford Way
Summerville, SC 29486
Sangaree
Residential

MLS# 17018584 / Active
3 br, 2 ba, 1056 sqft

This charming ranch home is nestled on a quiet cul-de-sac in an established community. It would make a great starter home or investment property! T... 

More Details

$130,000
Provided courtesy of Jeff Cook Real Estate, LLC

117 Pine Valley Drive
Summerville, SC 29483
Pine Forest Country Club
Residential

MLS# 17016050 / Active Contingent
5 br, 4 ba, 1 half bath, 3800 sqft

 

More Details

$479,900
Provided courtesy of Horne Realty, LLC

518 Brick Barn Lane
Goose Creek, SC 29445
Brickhope Greens
Residential

MLS# 17015492 / Active
4 br, 3 ba, 2182 sqft

POSSIBLE SHORT SALE! Great home! Awesome floor plan with four bedrooms and 3 full baths. All bedrooms upstairs with a space for an office downstair... 

More Details

$215,000
Reduced -$10,000
Provided courtesy of Carolina One Real Estate

2390 Seabrook Island Road
Johns Island, SC 29455
Seabrook Island
Residential

MLS# 17015137 / Active
3 br, 2 ba, 1 half bath, 4629 sqft

 

More Details

$998,500
Reduced -$151,500
Provided courtesy of Harbins Two, Inc

1945 N Creek Drive
Mount Pleasant, SC 29466
Rivertowne Country Club
Residential

MLS# 17014372 / Active
4 br, 3 ba, 3340 sqft

SHORT SALE OPPORTUNITY, PREAPPROVED PRICE! This Classic Charleston single sits on a beautiful tidal creek with a shared dock, providing easy acces... 

More Details

$880,000
Reduced -$70,000
Provided courtesy of Carolina One Real Estate

123 Salt Meadow Lane
Summerville, SC 29483
Blackberry Creek
Residential

MLS# 17012889 / Active Contingent
4 br, 2 ba, 1 half bath, 3530 sqft

Great investment opportunity! You will fall in love with this extremely spacious and open floor plan. Walking into the formal living/dining room wi... 

More Details

$220,000
Provided courtesy of Carolina One Real Estate

110 Conquerors Lane
Moncks Corner, SC 29461
Highways 17-a / Old 52 / New 52
Residential

MLS# 17012643 / Active
4 br, 2 ba, 1432 sqft

Come see this this unique home. This home has several possibilities. Would be great for a first time home buyer, retirement home buyer, investor. I... 

More Details

$178,000
Provided courtesy of AgentOwned Premiere Group

1851 Woodland Road
Charleston, SC 29414
Pier Point
Residential

MLS# 17012449 / Active
2 br, 1 ba, 1041 sqft

Great first home, 2 bedroom and 1 bath located in West Ashley. Inside is recently renovated top to bottom with new hardwood floors, cabinets, appli... 

More Details

$299,000
Provided courtesy of Sadler Group of Charleston LLC

121 Hammerbeck Road
Summerville, SC 29483
Brookwood
Residential

MLS# 17012287 / Active Contingent
3 br, 2 ba, 1145 sqft

Perfect home for the first time home buyer! This is an absolutely adorable home, looks like no one has lived here, very clean...Move right in cond... 

More Details

$154,900
Increase +$14,376
Provided courtesy of Coldwell Banker Residential Brokerage

109 Wheeler Road
Summerville, SC 29486
Sangaree
Residential

MLS# 17012172 / Active Contingent
4 br, 2 ba, 1480 sqft

Excellent Handyman Special & Short Sale Opportunity for a 4BR/2BA Brick Ranch in the Well-Established Subdivision of Sangaree in Summerville! Easy ... 

More Details

$50,000
Provided courtesy of Keller Williams Realty Charleston

52 Creek Bend Drive
Summerville, SC 29485
Bridges Of Summerville
Residential

MLS# 17011903 / Active Contingent
4 br, 2 ba, 1 half bath, 1841 sqft

You can own this beautiful 3 story Charleston single home with 4BR,2.5BA in the heart of Summerville. Stunning double front porches. Hardwood floor... 

More Details

$210,000
Increase +$25,000
Provided courtesy of Brand Name Real Estate
Residential, Land, Other Disclaimer: p>Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Carolina One Real Estate are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 09-19-2017 9:02am est. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2017 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2017 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 09-19-2017 9:02am est.

Any images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website.


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"I did not know there was a contest, so when Charleston City Paper readers voted me as their favorite Realtor, it was really nice. Charleston is a beautiful place, but the people here are what make living here so great!" - Nat Wallen

The Carolina One™ Sign

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Every aspect of what makes a sale successful has been carefully dissected for your benefit. Even down to what colors are most memorable and recognizable together on the Carolina One Real Estate sign.

Drone Photography

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Luxury properties and large tracts of land need to be viewed from a different perspective to attract a buyer. Standing out to buyers on the web is critical, and drones can make that happen in the right situation.

Luxury Portfolio Program

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Carolina One sells more homes over $1,000,000 than any other company in Charleston. Our Luxury Portfolio Program includes high quality peripherals, professional photography and an international marketing reach including the Wall Street Journal, Luxuryhomes.com and our Luxury Homes magazine.

Coming Soon Program

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With nearly 1000 agents, I will share your homes as a "coming soon" offering in our private Facebook group. Your home will be exposed to all of the buyers Carolina One agents are working with and will sell your home faster, and for more money... and this may even happen before it is placed on the market.

A Secure Lockbox

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The latest technology is utilized to ensure your home is easily accessible and completely secure. You can rest assured that your home will only be accessed by licensed SC Realtors, on your time frame, and on your specific terms.

Showing Appointments

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Handling the day-to-day showing appointments is an integral part of the sales process. Nat is able to efficiently arrange showings designed to follow the guidelines that you determine.

High-Quality Photography

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A Professional Description

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Careful attention to details will ensure your home is described and presented in the best light possible. By describing your home accurately and positively, Nat will work with YOU as the seller to craft the best feature and benefit list possible.

Carolina One™ Marketing

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Your home sale will benefit with the Carolina One team at work. Through a variety of different mediums, the fully staffed marketing department works to expose your home to all buyers coming into the Charleston area.

The Caravan Tour

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Nat Wallen will arrange a Carolina One agent tour of your home. Agents will become familiar with what your home offers by seeing it in person, and can share this information with their clients. In addition, agent feedback provides insightful opinions on the asking price and what will aid in the process.

The “Now Showing” System

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Using Carolina One’s exclusive “Now Showing System,” Nat will proactively contact agents currently looking for a home like yours. This proprietary software system will locate agents currently working with buyers that fit the price range and area for your home.

Office Notifications

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Carolina One has several offices in the Charleston area. With quality materials and a strong network of active Realtors selling homes each day in your neighborhood, your home sale will benefit with the strength of Carolina One’s agents working together.

Free Home Warranty

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An American Home Shield home warranty will be placed on your property at no cost to you. This coverage is provided to you while your home is listed with Nat Wallen of Carolina One Real Estate.

Multiple Listing Service

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Buyer E-mail Notifications

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Multiple Websites

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Your home will be shared through various social networking portals. Nat controls several Facebook pages and groups. Your property will be shared on pages like “Charleston, SC” - “Fans of Charleston” - “Fans of MUSC” - “Mt. Pleasant SC”- “The Nat Wallen Team” - ”Nat Wallen Real Estate” and “The Best of Charleston.”


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