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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1704 Hopeman Lane
Mount Pleasant, SC 29466
Charleston National

MLS# 18022328 / Active
2 br, 2 ba, 1 half bath, 1920 sqft

Beautiful, low maintenance townhome tucked into a serene Lowcountry setting in a sought-after golf course neighborhood! Entering the neighborhood ... 

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Provided courtesy of Carolina One Real Estate

1522 Mandarin Court
Summerville, SC 29483

MLS# 18021507 / Active Contingent
4 br, 2 ba, 1 half bath, 2700 sqft

AMAZING price for this size home! Bank approved short sale! Great family home on a quiet cul-de-sac! 4 bed/2.5 bath with double porches. Laminate w... 

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Reduced -$2,300
Provided courtesy of Carolina One Cane Bay/ Nexton

1100 Legends Club Drive
Mount Pleasant, SC 29466
The Legends At Mt Pleasant

MLS# 18020090 / Active Contingent
1 br, 1 ba, 836 sqft

This 1bd 1ba condo is located conveniently in the Legends at Mt. Pleasant. It is an exclusive, gated community close to Charleston National Golf Co... 

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Reduced -$22,000
Provided courtesy of Brand Name Real Estate

2465 The Haul Over
Johns Island, SC 29455
Seabrook Island

MLS# 18018610 / Active
3 br, 2 ba, 1 half bath, 2514 sqft

Easy to show! Home needs updates, but in a great location in Seabrook Island. Back porch looks over an Egret estuary and has views of the golf cour... 

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Provided courtesy of Harbins Two, Inc

212-A Village At Wild Dunes
Isle Of Palms, SC 29451
Wild Dunes

MLS# 18018330 / Active
2 br, 2 ba, 1229 sqft

Beautiful Two bedroom end-unit in The Village of Wild Dunes, a Four Diamond Award winning property. The Village Complex is the latest addition to W... 

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Reduced -$10,000
Provided courtesy of Wild Dunes Real Estate, LLC

5208 Mulholland Drive
Summerville, SC 29485
Wescott Plantation

MLS# 18017321 / Active
4 br, 2 ba, 1 half bath, 2370 sqft

Great home in the desirable Birkdale subsection of Wescott Plantation. As you enter into the first floor, you are greeted with a grand foyer and wo... 

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Reduced -$6,000
Provided courtesy of Keller Williams Realty Charleston

619 Double Eagle Trace
Seabrook Island, SC 29455
Seabrook Island

MLS# 18016763 / Active
1 br, 1 ba, 1 half bath, 817 sqft

SHORT SALE OPPORTUNITY! Enjoy the views of the golf course while sitting on the back deck of this 2-story townhome. 1 Bedroom/1.5 bathrooms with... 

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Reduced -$4,000
Provided courtesy of Carolina One Real Estate

2583 Otranto Road
North Charleston, SC 29406
Northwood Estates

MLS# 18016282 / Active Contingent
3 br, 2 ba, 1606 sqft

Handyman Special - 3 bedrooms 2 bath brick ranch with converted garage. (if exact square footage is important, buyer should measure; According to t... 

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Provided courtesy of Carolina One Real Estate

412 Sparkleberry Lane
Ladson, SC 29456

MLS# 18015792 / Active Contingent
4 br, 2 ba, 2173 sqft

Lots of potential with this 1 story home in Dorchester 2 School District with 4th bedroom over the garage. Fenced in yard, 2 car garage, fireplace,... 

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Provided courtesy of ChuckTown Homes, LLC

108 Lisa Drive
Summerville, SC 29485

MLS# 18015461 / Active Contingent
3 br, 2 ba, 1025 sqft

Cute 1 story brick ranch on large lot with 1 car garage. This would be a great house for an investor! Lots of potential. 

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Provided courtesy of Carolina One Cane Bay/ Nexton

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

MLS# 18014515 / Active Contingent
4 br, 2 ba, 1432 sqft

Outstanding Opportunity to Own a SHORT SALE 4BR/2BA on .78 Acres in Moncks Corner with Easy Access to S Live Oak & Old Whitesville Road. Priced to ... 

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Provided courtesy of Keller Williams Realty Charleston

718 Royall Avenue
Mount Pleasant, SC 29464
Old Village

MLS# 18014472 / Active
4 br, 3 ba, 1 half bath, 3959 sqft

One of the most secluded settings in the Old Village. Beautiful mature landscaping surrounds this spacious home. Versatile floor plan allows for fi... 

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Reduced -$100,000
Provided courtesy of The Cassina Group

7210 Mossy Creek Lane
Hanahan, SC 29410
Tanner Plantation

MLS# 18014018 / Active Contingent
4 br, 2 ba, 2 half bath, 2420 sqft

This is a special home with wonderful Charleston curb appeal. Three covered porches, 10 foot ceilings downstairs, 9 ft upstairs, open floor plan, b... 

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Provided courtesy of AgentOwned Preferred Group

2945 Cathedral Lane
Charleston, SC 29414
Old Towne Villas

MLS# 18013825 / Active
3 br, 2 ba, 1 half bath, 2089 sqft

End unit Townhome located just off of the golf course. Home is conveniently located near hospitals, West Ashley High School, restaurants, grocery s... 

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Provided courtesy of Harbins Two, Inc

4293 Club Course Drive
North Charleston, SC 29420
Coosaw Creek Country Club

MLS# 18013491 / Active Contingent
5 br, 3 ba, 1 half bath, 3972 sqft

Home priced to sell. This is a Wonderful Opportunity, a Great Deal, Great Neighborhood and its ready for your family's touch. The home is priced ac... 

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Provided courtesy of Brand Name Real Estate

181 Blackwater Way
Moncks Corner, SC 29461
Fairmont South

MLS# 18013031 / Active Contingent
4 br, 2 ba, 1 half bath, 2891 sqft

Located in the heart of Moncks Corner, you will be close to schools, shopping, and restaurants! Walking in you are greeted by smooth ceilings, crow... 

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Provided courtesy of RE/MAX Alliance

4437 Clovewood Street
Ladson, SC 29456
Woodside Manor

MLS# 18012640 / Active
4 br, 2 ba, 1 half bath, 1480 sqft

Great opportunity for investor or owner with some vision. Home is HANDY MAN special, but with a little sweat equity, can easily be turned into a re... 

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Provided courtesy of BHHS Southern Coast Real Estate

193 Golf View Lane
Summerville, SC 29485
Highlands Of Legend Oaks

MLS# 18012628 / Active Contingent
2 br, 2 ba, 1550 sqft

Make this beautiful, like new construction your home! Everything throughout the entire townhome is new; flooring, paint, fixtures, appliances, and ... 

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Provided courtesy of CRP Real Estate LLC

2068 Ashburton Way
Mount Pleasant, SC 29466
Park West

MLS# 18012078 / Active
6 br, 4 ba, 1 half bath, 4859 sqft

Gorgeous Waterfront property on Toomer Creek with beautiful views. Golf course across the creek enhances the view and privacy in this serene locati... 

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Reduced -$51,000
Provided courtesy of Carolina One Real Estate

6231 Rolling Fork Road
North Charleston, SC 29406
Woodhill Place

MLS# 18011968 / Active Contingent
2 br, 2 ba, 922 sqft

Not far from Boeing, Navy Weapons Station, and Trident college. Screened in porch, fireplace, and high ceilings. Great opportunity. Needs carpet ... 

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Reduced -$5,000
Provided courtesy of BIG Realty, LLC

328 Whispering Breeze Lane
Summerville, SC 29486
Cane Bay Plantation

MLS# 18010261 / Active
4 br, 2 ba, 1 half bath, 2744 sqft

Don't wait for new construction!!! Welcome Home!!! This beautiful four bedroom two and a half bath home sits on a corner lot with scenic views. Thi... 

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Reduced -$9,900
Provided courtesy of Carolina One Cane Bay/ Nexton
Residential, Land, Other Disclaimer:

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 08-18-2018 10:01am 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 08-18-2018 10:01am 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.

This real estate website and IDX data is hosted by Dynamic IDX, LLC

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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

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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.

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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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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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