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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108 Alan Court
Summerville, SC 29485

MLS# 18000395 / Active Contingent
4 br, 1 ba, 1 half bath, 1138 sqft

Ton of potential with this 4 bedroom 2 bath home. Located in DD 2 school zone on a quite cul-de-sac. Large eat-in kitchen, huge fenced backyard, an... 

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Provided courtesy of AgentOwned Premiere Group

423 Aberdeen Circle
Summerville, SC 29483
Scotts Mill

MLS# 18000373 / Active
4 br, 3 ba, 1 half bath, 2096 sqft

*** SHOWINGS BEGIN TUESDAY JANUARY 16TH*** Amazing and RARE opportunity to purchase this deeply discounted SHORT SALE. Located in the highly desira... 

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Provided courtesy of ChuckTown Homes, LLC

7660 Blue House Lane
Edisto Island, SC 29438

MLS# 17033608 / Active
6 br, 3 ba, 2901 sqft

The Islands at Blue House - exquisite, ever changing views of wildlife, the creek, marsh,& N. Edisto from your classic lowcountry home nestled in a... 

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Provided courtesy of Edisto Sales & Rentals Realty

316 Santee Drive
Santee, SC 29142
Santee Cooper Resort

MLS# 17032433 / Active
3 br, 2 ba, 1 half bath, 2376 sqft

Stunning home on a half acre lot that backs up right on the golf coarse. As soon as you enter your eyes will go directly to the large open floor pl... 

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Reduced -$15,000
Provided courtesy of Realty ONE Group Coastal

121 Trestlewood Drive
Summerville, SC 29483

MLS# 17032013 / Active Contingent
4 br, 2 ba, 1 half bath, 2011 sqft

Don't miss out on this amazing opportunity to own a great home with huge potential, located in a great area on a huge corner lot the house has grea... 

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Provided courtesy of ChuckTown Homes, LLC

1346 Ashley Gardens Boulevard
Charleston, SC 29414
Grand Oaks Plantation

MLS# 17031665 / Active Contingent
4 br, 3 ba, 1943 sqft

One of the few 4 Bedroom 3 Bath homes in Grand Oaks. Master Suite and 2 Bedrooms and Full bath on main level. Upstairs you will find another Huge... 

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Provided courtesy of Carolina One Real Estate

209 Red Leaf Boulevard
Moncks Corner, SC 29461
Foxbank Plantation

MLS# 17029988 / Active
4 br, 3 ba, 1 half bath, 2872 sqft


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Reduced -$20,000
Provided courtesy of Fred Holland Realty

111 Red Rooster Circle
Moncks Corner, SC 29461

MLS# 17029182 / Active Contingent
4 br, 2 ba, 2112 sqft

Are you ready for a home in country that's still close to shopping, dining, entertainment, and the new Volvo site? Then this 4 bedroom, 2 bathroom ... 

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Provided courtesy of Matt O'Neill Real Estate

14 Sandpiper Court
Isle Of Palms, SC 29451
Wild Dunes

MLS# 17029140 / Active Contingent
3 br, 2 ba, 1256 sqft

Located in the heart of Wild Dunes, you will be close to shopping, schools, restaurants, and minutes from the gorgeous IOP Beach. This is perfect f... 

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Provided courtesy of RE/MAX Alliance

3094 Linksland Road
Mount Pleasant, SC 29466
Charleston National

MLS# 17029058 / Active Contingent
4 br, 2 ba, 1 half bath, 2398 sqft

MOTIVATED SELLERS - CHARLESTON NATIONAL GOLF COURSE VIEW!! This home is situated on the 9th tee box of the prestigious golf course of Charleston Na... 

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Provided courtesy of Carolina One Real Estate

8626 Bentwood Drive
North Charleston, SC 29406
Northwoods Estates

MLS# 17028885 / Active Contingent
4 br, 2 ba, 1433 sqft

Don't miss out on this amazing opportunity to own this fabulous 4 bedroom home in a well established neighborhood, just minutes to I26 and US-52. T... 

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Reduced -$10,000
Provided courtesy of ChuckTown Homes, LLC

1635 Short Cut Road
Cross, SC 29436
Cross Area (west)

MLS# 17028364 / Active
4 br, 4 ba, 3500 sqft

Absolute Bargain! Unbelievable price! Priced low & firm for your pre-approved buyer who wants a great deal on a super home in a country setting. Hu... 

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Increase +$25,000
Provided courtesy of Keller Williams Realty Charleston

1930 Tropicana Road
North Charleston, SC 29406
The Riverway

MLS# 17028312 / Active
2 br, 1 ba, 1 half bath, 1066 sqft

Nice condo in great location. Walking distance to Trident Technical College and nearby restaurants. This lovely unit has ceramic tile downstairs. S... 

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Provided courtesy of AgentOwned Premiere Group

415 Parkdale Drive
Charleston, SC 29414
Carolina Cove

MLS# 17028171 / Active
2 br, 1 ba, 1 half bath, 868 sqft

Best deal in Carolina Cove. Great amenitites and location under $100k. Downstairs den, and kitchen with small courtyard and half bath. Upstairs are... 

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Provided courtesy of John Poston & Company, Inc.

1162 Old Ivy Way
Mount Pleasant, SC 29466
Brickyard Plantation

MLS# 17027352 / Active Contingent
3 br, 2 ba, 1 half bath, 1717 sqft

Great opportunity to own this 3 bedroom and 2.5 bath house located in Brickyard Plantation.Nice floor plan with a lot of potential BUT NEEDS WORK!!... 

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Provided courtesy of Golden Bear Realty, LLC

8111 S Split Oak
North Charleston, SC 29420

MLS# 17026131 / Active Contingent
3 br, 2 ba, 1319 sqft

HANDY MAN SPECIAL with lots of potential! Very popular, traditional floor plan with a large family room and open to the kitchen and dining area. ... 

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Provided courtesy of Home Solution Real Estate Services

290 Village Stone Circle
Summerville, SC 29483
Marrington Villas At Cobblestone

MLS# 17025573 / Active
2 br, 2 ba, 1513 sqft

LAVISH upgrades are in abundance in this immaculate, well maintained home. The Palazzo is a beautifully designed, detached, free-standing home on a... 

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Reduced -$4,500
Provided courtesy of Coldwell Banker Residential Brokerage

530 Barfield Drive
Summerville, SC 29485
Walnut Farms

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

APPROVED SHORT SALE PRICE FROM LENDER!! Yes, this home needs some repairs, but this stately executive home is on a 1 ACRE WOODED LOT and is priced... 

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Provided courtesy of Miler Properties, Inc.

2603 Stith Avenue
North Charleston, SC 29405

MLS# 17022117 / Active Contingent
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... 

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Provided courtesy of Keller Williams Realty Charleston

450 Doane Way
Charleston, SC 29492
Beresford Commons

MLS# 17020666 / Active Contingent
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... 

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Reduced -$5,000
Provided courtesy of Charleston Homes

25 Kenilworth Road
Goose Creek, SC 29445

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... 

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Provided courtesy of Exit Realty Lowcountry Group
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 01-16-2018 12:02pm 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 2018 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2018 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 01-16-2018 12:02pm est.

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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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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.

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The Caravan Tour

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Free Home Warranty

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