Short Sale with FHA Seller

Just a heads up…you want to ask your next potential Short Sale Seller IF their orignal loan(s) to purchase the property were FHA loans.

Bank of America, and possibly others, are now requiring certain FHA-specific documents to be signed by the Seller for inclusion in their Short Sale package, as well as specific language to be added into the Listing Agreement and Purchase Agreement.

This just happened on one of our Short Sales with Bank of America and wanted to pass this along.

Again, is this just meant as a heads up as another good qualifying question to ask “up front” of your Short Sale Seller.