Exceptional real estate service (510) 205 2992

1. Please send ALL required documents in one packet at the same time or it will not be reviewed.
2. Bank will not contact you if a required document is omitted.
3. Turnaround time is subject to the Real Estate Department’s current volume, completion of due diligence and subsequent review and approval.
4. Upon receipt of a completed short sale packet, turnaround time will be at least 10 business days (probably more like 45 days or more if the package is not complete). **Calls prior to that date for status will not be returned.**

REQUIRED DOCUMENTS:

• Copy of the Contingency Sales Contract or Purchase Offer Contract -This form will demonstrate that a prospective buyer has made a purchase offer.  It is not necessary to provide credit information about the proposed buyer, please do not include buyer’s financials.

• Pro forma or pre- HUD Statement reflecting that there is $0 funds going to seller, must include payment and commission amount(s) to all parties. NCB must be receiving funds for the offer to be reviewed. -This form shows the breakdown of funds from the sales price.  The bank requires an actual federal HUD-1 form, not a title agent’s Estimated Closing Expense Form.

• Copy of the Realtor’s Listing Agreement. Agreement must be signed -This is the contract between the Bank’s Customer and the Realtor giving the realty company permission to place the property on the market.

• A copy of the listing activity -This would be a listing of all sales activity regarding the subject property including showings, open houses, and advertising efforts.   This is the Realtor’s opportunity to provide relevant information regarding marketplace challenges, including obstacles to sale as well as demonstrative scaled reductions in offering price and marketing fees.

• Authorization to release information to the Realtor. Form must be signed.    -This letter will be written by and signed by the Bank’s Customer allowing the Bank to discuss and/or release any info to the Realtor pertaining to the subject property.

• Letter of written authorization to perform and interior/exterior bpo. Must be signed. -In order to perform an interior/exterior appraisal the Bank will need a written ok with a signature by the Bank’s Customer to perform the inspection.  There must be a telephone number provided with a contact name so that an appointment to access the property can be scheduled.  The letter must specifically state that the Bank’s Customer gives his/her permission to complete an interior/exterior appraisal of the subject property.

• Hardship letter from our customer -This will be a letter drafted and signed by the Bank’s Customer stating the reasons and/or hardships that led to the need for a Short Sale or Settlement.

• Financial Statements/Asset Information -This includes, but is not limited to, six months of bank statements, W-2 forms or 1099 (or any tax forms), last two pay stubs, 401K statements, and  IRA statements for all signers.  If self-employed please highlight on bank statements when deposits have been made.