Forms You Need to Submit Along with Your Offer:
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Purchase contract
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Short sale addendum
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As-is Addendum
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HOA addendum (if applicable)
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FHA form “For your protection” (if buyer is getting a FHA loan)
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Proof of funds (if a cash offer)
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Fully completed LSR
Purchase Contract Notes:
Line 16 – should read “per short sale addendum” or “see line 36 of the short sale addendum”.
Lines 40 - 43 – offer should not include a request for personal property
Line 91 – Old Republic Title, Nancy B. 602-996-4301 or Fidelity National Title, Diane Nelson,
480-344-6400. The buyer may buy title insurance from whomever they wish, however due to the labor
intensive work we use two highly trained short sale escrow people to handle all our short sale files. The
listing will indicate which one to use.
Line 260 – home warranties. Many lenders will not pay them, but we have gotten them approved about
50% of the time. Please counsel your buyer that they can ask but they should be prepared to forgo that.
MISC:
Closing costs: In our experience some banks will not pay closing costs. Currently, Wells Fargo and ASC
will not pay buyer closing costs. If the loan is a Fannie Mae loan, they will not pay over 5K or 3% -
whichever is less on FHA loans. On conventional loans a few lenders will pay buyer costs, but it is rare.
Cash offers: In our experience cash offers are not given preference over higher bottom line nets. The
exception being if the other offers are over 3% closing costs or if it is a Wells Fargo/ASC file.
Digitally signed contracts: In our experience, some banks will not accept digitally signed offers
(docusign). If the seller’s lender is ASC, Wells Fargo or EMC, they will not accept a digital signature. If
you are planning to obtain a digital signature, please make sure that our seller’s loans are not with one of
these lenders.
* SUBMITTING YOUR OFFER – HELPFUL HINTS *
For more information on our short sale process and how we present offers to the lender, please click here.