Kolo-Hronek Realty


The family home is full of meaning and memories. There is nothing more devastating than losing that home.

As qualified short sale specialists, we are able to navigate the complicated process of a short sale.

Short Sales are extremely complicated and must be handled property in order for the Sale to be approved in a timely manner.

Let us help guide you through this delicate situation, complete the sale at the best terms possible.

Components of an Effective Short Sale Package (A Great Checklist!)

  • Short-sale proposal letter (cover letter)
  • Seller's signed short-sale payoff application, if available
  • Seller's hardship letter
  • Supporting financial information
  • Supporting hardship information
  • Repair estimate for the property, if repairs are required
  • CMA with supporting sales history
  • Marketing history, showings, and feedback
  • Purchase contract signed by both buyer and seller
  • Copy of certified escrow instructions, if applicable
  • HUD-1 settlement statement
  • Written proof of buyer's ability to purchase property (completed loan application, lender's preapproval, or bank statement if the buyer is purchasing with cash)


The price must not be too low. If the price is too low the lender may not approve the sale, the seller may be liable for the deficiency and the buyer has lot valuable time.

Allow sufficient time for the process. The new laws require an answer in a reasonable time frame. It is still about 90 days.

Home Inspection
Home inspections should be done as soon as possible prior to short-sale approval. Lenders will not approve a short sale if there is a contingency in the offer that could delay or cancel the sale.

Earnest Money
Earnest money must be on deposit with the realtor.


Components of an Effective Short Sale Package (A Great Checklist!)

  • Incomplete short sale packages
  • Timing of contract--no reasonable chance of closing
  • Release of deficiency
  • No hardship
  • Junior Liens--All liens on the property must be negotiated with the sale and must be released.


We will work with you every step of the way to avoid the common problems and to work with you toward the success that comes from a proper short sale.

Contact us to get started!