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Short Sale

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  • Author
    Posts
  • #2521
    tstrait
    Participant

    We are about to do our first short sale. This is a commercial customer. Other than issuing a 1099-C, what other documents do we need?

    #2977
    jholzknecht
    Keymaster

    It is not clear if your existing customer is entering into a short sale or if you are also financing the purchase for another customer. If your bank is financing the purchase for a customer you need all of the documents you need for any home purchase loan. State law may also come into play so you should with counsel in Ohio or with your state banking association, or maybe one of our members may be familiar with Ohio law.

    #2973
    tstrait
    Participant

    Our customer is entering into a short sale, and we have agreed to it.

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