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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54 Photos 13 Lochmore Terrace Charleston, SC 29414

13 Lochmore Terrace
Charleston, SC 29414
Shadowmoss
Residential

MLS# 19001868 / Active
4 br, 2 ba, 1 Half Bath, 2300 Sqft

Check out the location and the potential on this awesome property! On Shadowmoss Golf Course, between hole 11 and 12, over a half acre lot, in-grou... 

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$265,000
Provided courtesy of Keller Williams Realty Charleston
23 Photos 2229 Asheford Drive Charleston, SC 29414

2229 Asheford Drive
Charleston, SC 29414
Asheford Place At Canterbury Woods
Residential

MLS# 19000986 / Active
3 br, 2 ba, 1282 Sqft

Located in Canterbury Woods, you will be close to schools, shopping, and restaurants! Walking in you are greeted by hardwood floors, vaulted ceilin... 

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$235,000
Provided courtesy of RE/MAX Alliance
13 Photos 192 Darcy Avenue Goose Creek, SC 29445

192 Darcy Avenue
Goose Creek, SC 29445
Persimmon Hill Townhouses
Residential

MLS# 18033467 / Active
3 br, 2 ba, 1 Half Bath, 1670 Sqft

Two story townhome with 3 bedrooms, 2.5 Baths plus a loft. Priced to reflect need for carpet and paint. Sold as is but appears to be mostly cosmeti... 

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$140,000
Provided courtesy of Carolina One Real Estate
38 Photos 2430 Lilytree Drive Charleston, SC 29414

2430 Lilytree Drive
Charleston, SC 29414
Magnolia Bluff
Residential

MLS# 18033037 / Active
3 br, 2 ba, 1 Half Bath, 2072 Sqft

Located along the Ashley, in a stylishly unique riverfront community, you will discover a flawless one year old home in like new condition. One des... 

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$319,000
Provided courtesy of Brand Name Real Estate
12 Photos 1118 Ayers Plantation Way Mount Pleasant, SC 29466

1118 Ayers Plantation Way
Mount Pleasant, SC 29466
Dunes West
Residential

MLS# 18032231 / Active
5 br, 3 ba, 1 Half Bath, 4108 Sqft

Located in desirable Dunes West, you will be close to schools, shopping, restaurants, and just a quick drive to Downtown Charleston and the gorgeou... 

More Details

$675,000
Reduced -$20,000
Provided courtesy of RE/MAX Alliance
27 Photos 225 Pointer Drive Summerville, SC 29485

225 Pointer Drive
Summerville, SC 29485
Quail Arbor
Residential

MLS# 18031683 / Active
3 br, 2 ba, 2147 Sqft

Optional HOA, great 3 bed 2 bath home on .41 of an acre near shopping, hospital and AFB. Prime opportunity to invest in your future home sweet home... 

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$180,000
Reduced -$20,000
Provided courtesy of Realty ONE Group Coastal
1 Photos 710 Rutledge Avenue Charleston, SC 29403

710 Rutledge Avenue
Charleston, SC 29403
Residential

MLS# 18028655 / Active
4 br, 1 ba, 1 Half Bath, 1800 Sqft

Prime Location! Dowtown Charleston minutes from MUSC, Roper,The Citadel, Hampton Park, shopping, and the beaches. Home needs some work but has a l... 

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$380,000
Reduced -$20,000
Provided courtesy of AgentOwned Premiere Group
23 Photos 5886 Ryans Bluff Road North Charleston, SC 29418

5886 Ryans Bluff Road
North Charleston, SC 29418
Covington Hills
Residential

MLS# 18027738 / Active
3 br, 3 ba, 3312 Sqft

3 bedroom, 3 bathroom, 1 story home. Spacious eat-in kitchen with breakfast bar, walk-in pantry and wet bar. LARGE formal dining room and family... 

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$285,000
Reduced -$15,000
Provided courtesy of Carolina One Real Estate
14 Photos 164 Palm Cove Way Mount Pleasant, SC 29466

164 Palm Cove Way
Mount Pleasant, SC 29466
Dunes West
Residential

MLS# 18027640 / Active
2 br, 2 ba, 1 Half Bath, 2175 Sqft

This exquisitely upgraded townhome, located in the exclusive Dunes West gated community has MARSH VIEWS from nearly every window making it a privat... 

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$379,000
Reduced -$5,000
Provided courtesy of Coldwell Banker Residential Brokerage
35 Photos 1013 Tyron Circle Charleston, SC 29414

1013 Tyron Circle
Charleston, SC 29414
Grand Oaks Plantation
Residential

MLS# 18025854 / Active
4 br, 3 ba, 1 Half Bath, 3008 Sqft

When you walk in the front door you will immediately notice the 12 foot smooth ceilings throughout the main living areas. This four bedroom three a... 

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$365,000
Reduced -$5,000
Provided courtesy of Matt O'Neill Real Estate
56 Photos 7660 Blue House Lane Edisto Island, SC 29438

7660 Blue House Lane
Edisto Island, SC 29438
Blue House Plantation
Residential

MLS# 18025471 / 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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$749,000
Reduced -$50,000
Provided courtesy of Edisto Sales & Rentals Realty
19 Photos 1263 Wild Goose Trail Summerville, SC 29483

1263 Wild Goose Trail
Summerville, SC 29483
Drakesborough
Residential

MLS# 18024403 / Active
5 br, 3 ba, 1 Half Bath, 2967 Sqft

Almost 3000 square feet in a beautiful, peaceful community! Spacious 5 bed, 3.5 bath home that borders a scenic pond site, with lots of parking and... 

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$213,000
Reduced -$2,000
Provided courtesy of RE/MAX Alliance
1 Photos 112 Durham Drive Goose Creek, SC 29445

112 Durham Drive
Goose Creek, SC 29445
Crowfield Plantation
Residential

MLS# 18023620 / Active
4 br, 2 ba, 1812 Sqft

 

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$219,500
Provided courtesy of Harbins Two, Inc
34 Photos 1818 Hocklely Boulevard Charleston, SC 29414

1818 Hocklely Boulevard
Charleston, SC 29414
Carolina Bay
Residential

MLS# 18022315 / Active
4 br, 3 ba, 2019 Sqft

Great location for thisl 4 bedroom, 3 full bath home featuring hardwood floors, granite countertops, and is located on a corner lot with a large fe... 

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$300,000
Reduced -$15,000
Provided courtesy of Carolina One Real Estate
15 Photos 1100 Legends Club Drive Mount Pleasant, SC 29466

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

MLS# 18020090 / Active
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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$145,000
Reduced -$22,000
Provided courtesy of Highgarden Real Estate
1 Photos 2465 The Haul Over Johns Island, SC 29455

2465 The Haul Over
Johns Island, SC 29455
Seabrook Island
Residential

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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$495,000
Reduced -$80,000
Provided courtesy of Harbins Two, Inc
4 Photos 2945 Cathedral Lane Charleston, SC 29414

2945 Cathedral Lane
Charleston, SC 29414
Old Towne Villas
Residential

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... 

More Details

$195,000
Provided courtesy of Harbins Two, Inc
39 Photos 328 Whispering Breeze Lane Summerville, SC 29486

328 Whispering Breeze Lane
Summerville, SC 29486
Cane Bay Plantation
Residential

MLS# 18010261 / Active
4 br, 2 ba, 1 Half Bath, 2744 Sqft

Pre-Approved Short Sale Price...Don't wait for new construction!!! Welcome Home!!! This beautiful four bedroom two and a half bath home sits on a c... 

More Details

$300,000
Reduced -$9,900
Provided courtesy of Carolina One Cane Bay/ Nexton
30 Photos 5804 Palmetto Drive Isle Of Palms, SC 29451

5804 Palmetto Drive
Isle Of Palms, SC 29451
Wild Dunes
Residential

MLS# 16012207 / Active
2 br, 2 ba, 1231 Sqft

PRE-APPROVED SHORT SALE! !!!FURNISHED END UNIT WITH GREAT RENTAL HISTORY. THERE IS A WRAP AROUND PRIVATE BALCONY THAT HAS VIEWS OF THE POND AND CO... 

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$562,000
Reduced -$8,000
Provided courtesy of Carroll Realty
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 01-21-2019 11:02pm 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 2019 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2019 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 01-21-2019 11:02pm 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

Nat Wallen’s marketing campaign sells homes.

Thank You Charleston!

"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

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

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

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

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

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

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

Quality photography plays an important role in attracting a buyer for your home. By taking the time to determine the best angle, time of day and what photos to include in your marketing campaign, Nat’s photography speaks volumes.

A Professional Description

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

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

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

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

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

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

Nat Wallen takes great care to provide an engaging description and high-quality photography to share your home’s features with all Charleston area buyers.

Buyer E-mail Notifications

With Nat’s knowledge of how to push the MLS features to their full capabilities, each day as buyers come into the market looking for a home like yours, they will receive an e-mail from their agent letting them know it is for sale and ready to be shown.

CarolinaOne.com

With over 80,000 visitors each month, Carolina One’s professional website allows your home’s quality photos, detailed description and availability to be shared with incoming buyers to the area on a local, national and global scale.

Relocation Notifications

Leading Real Estate Companies of the World will be notified of your home’s availability for sale. Composed of 550 firms, 4,600 offices and 140,000 sales associates in over 30 countries, this group of successful real estate agencies send referrals daily.

Mass Realtor Syndication

NatWallen.com is a heavily used Charleston real estate website. In addition to reaching hundreds of buyers visiting each day, your home will be syndicated to over 3,000 Realtor websites.

Multiple Websites

Your property will be listed on NatWallen.com, CarolinaOne.com, Google, CLRSearch.com, Trulia.com, Realtor.com, HomeFinder.com, FrontDoor.com, HGTV.com, SouthCarolina.com, Overstock.com. Yahoo.com, Fizber.com, Charleston.com, Vast.com, Hotpads.com, AOL.com, etc.

Social Networking

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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