FREE Las Vegas Short Sale Kit DOWNLOAD

How do I start the short sale process?

Answer: A FREE Short Sale Kit
Start the short sale process by downloading a FREE short sale kit that contains the information and forms you need to start your short sale and close it as soon as possible. *WORKS WITH ANY LENDER*

Download a FREE short sale kit today. Start your short sale and take advantage
of what your lender is offering now to short sale your property!
Your short sale kit contents include:

    •Short sale benefits and ramifications.
    •Frequently asked questions about short sales.
    •Cash for Keys in Nevada information.
    •How the short sale process works for Sellers in Las Vegas.
    •How to write a hardship letter.
    •Hardship letter samples.
    •Eligibility questionnaire.
    •Nevada foreclosure timeline and information.
    •State of Nevada Mediation information.
    •Forms required by your lender to process your short sale request.
    •And more!

By filling out the form below, your FREE short sale kit will be emailed to you.
If you would like to receive the kit by fax, Federal Express or U.S. Mail, please provide the fax number or mailing address in the fields below.

“Together we can do great things.”

Keller Williams Realty, Marketplace One
3455 Cliff Shadows Parkway #220
Las Vegas, NV 89129
Short Sale Kit Contents:

  • a.) List of Foreclosure Alternatives-
    A list of all of the options available to you in order to avoid foreclosure.

    b.) Third Party Authorization Form-
    Grants your Las Vegas short sale agent permission to speak to your lender about your loan.

    c.) Cease Communication Form-
    Stops the lender’s collection department from constantly phoning you about the past due balance on your account.

    d.) Financial Statement-
    A disclosure of your income, your assets and your expenses.

    e.) Dodd Frank Certification-
    A form certifying that, in the last 10 years, you have not been convicted of a felony larceny, theft, fraud, or forgery; money laundering; or tax evasion.

    f.) 4506-T Income Tax Verification-
    A document that allows your lender to contact the IRS to verify your past income tax returns.

    g.) Legal Disclosure-
    A disclosure about the limits of the work of any Las Vegas short sale agent.

  • (Required from you)
    –Mortgage Statement(s), for all loans against the property
    –Hardship letter, signed by all borrowers.
    –Paycheck stubs, last 4 for each borrower.
    –Bank Statements, last 2 months (please include all pages).
    –Tax Returns, last 2 years filed (include all pages & W2’s).

  • a.) Listing Agreement-
    The agreement between you and your Las Vegas short sale agent to sell the property.
    The bank pays the commission. The short sale is free to you.

    b.) Short Sale Addendum to Listing Agreement-
    Addendum to the Listing Agreement that discloses the listing is a short sale, is subject to your lender(s) approval of the sale and possible ramifications of a short sale.

    c.) Duties Owed-
    The duties owed to you by your Las Vegas short sale agent.

    d.) Residential Disclosure Guide-
    A 27-page guide to what you should know about selling real estate in the State of Nevada.

    e.) Seller’s Real Property Disclosure Statement-
    *Required by Nevada Revised Statutes. Disclosure of the condition of the property and any known problems.


For your short sale request to be considered, all the forms in this kit need to be signed or initialed in the appropriate place and returned along with your financial documentation.

Please keep a copy of everything you send to us for your records.

We are your advocate and your REALTOR(r) and represent your interests only in this transaction. We do not represent the interests of your lender or the buyer of your property.

Feel free to phone us with any questions at all. Please remember that when you stop making your mortgage payments your lender becomes a debt collector so it’s important you completely understand the benefits and ramifications of a short sale.

For more information on short sales in Nevada please visit our Nevada Short Sales page here:

Tania Michaels
Keller Williams Realty, Marketplace One
License# 56219
More Resources:

We are not associated with the government. If you stop making your mortgage payments you could damage your credit and lose your house.
Short Sale Benefits:

If you need to sell your property and the fair market value of your property is less than the balance of your mortgage, you may elect to avoid foreclosure and complete a short sale.

Your lender may be willing to accept an amount less than what is owed on the property. If so, you may be able to avoid the repayment of an overwhelming debt. The short sale of your property will be contingent upon your lender’s approval of such. It is important to note that your lender is not obligated to approve a short sale.

In addition to debt forgiveness, you lender may agree to give you a short sale relocation incentive of up to $30,000.
Short Sale Ramifications:
There are four major considerations when attempting a short sale:

a.) Credit – A short sale may be reported to the credit reporting agencies and could adversely affect your credit score. In nearly all cases, however, a foreclosure is usually the most damaging hit to your credit rating.

b.) Deficiency Judgment – Even if your lender agrees to the short sale, they may not agree to forgive the entire debt. You may be required to pay the difference as a personal obligation. In most short sales, however, the lender forgives the deficiency, which is the difference between the sales price and the balance of the loan(s). Obtaining this forgiveness is the most important goal of completing a short sale.

c.) Tax liability – Your lender(s) will issue you a 1099 for any debt forgiven. This 1099 may be considered taxable income by the IRS. The federal government has made provisions for home owners to be able to apply for a tax exemption on taxable income as a result of a short sale. Please ask your tax advisor about the American Taxpayer Relief Act of 2012 and IRS Form 982.

d.) Foreclosure – If you stop making your mortgage payments and your lender does not approve a short sale, you could lose your home, damage your credit rating, incur a deficiency judgment and a federal tax liability. In some cases, a short sale can stop the foreclosure process.