It depends on the final outcome of the loan claim/repayment situation and your VA history. Many people can use VA again, but available entitlement and timing can vary.

It depends. Some short sales end with a clean release; others can result in a remaining balance/claim issue depending on the approval terms and how the loss is handled. The borrower can always negotiate a full release with the lender during the process. The North Carolina Real Estate Commission does not allow real estate agents, who are not attorneys, to negotiate with banks on behalf of the borrower.

That’s the goal. The important part is making sure the approval letter clearly states the terms, including whether there’s a deficiency waiver/release, before you close.

Approval to sell short does not automatically guarantee there’s no remaining obligation. What matters is the final written terms of the approval and how the lender/VA handles the shortfall.

In most cases you can use VA again, but it depends on entitlement availability, your credit re-establishment, and the final loss outcome.

Sometimes. Restoration generally depends on whether the VA was paid back, whether the loan was settled cleanly, and your specific entitlement history.

Often yes. Some borrowers can qualify sooner than they expect if the rest of the file is strong, but it varies by lender overlays, credit, and payment history leading up to the short sale.

Typically the investor (for VA loans, the Department of Veterans Affairs) controls the guidelines for approval. The VA may be involved depending on the scenario, but most of the day-to-day approval process runs through the servicer using the investor guidelines.

It’s essentially VA’s term for a short sale where the payoff is less than what’s owed. Practically, it means the deal may have specific VA-related documentation and review requirements.

Most of what you submit is still the “standard” short sale package (authorization, hardship, financials). Depending on the servicer, there may be VA-specific forms, explanations, or added verification.

Incomplete/expired documents, unclear hardship, unresolved title/lien issues, unrealistic pricing, valuation disputes, and offers with too many concessions or uncertain financing.

Yes, once you sign a third-party authorization, your agent can communicate directly with the servicer to submit docs, request updates, and understand terms. As previously mentioned, the North Carolina Real Estate Commission does not allow real estate agents, who are not attorneys, to negotiate with the bank on the seller’s behalf. The Seller can hire their own attorney or negotiator to work with the bank on terms and deficiency judgments.

Often no, but it depends on approval terms, lien negotiations, and whether a contribution is required.

Sometimes, however, our experience is this is rare. Some approvals include a contribution, note, or other settlement term, especially if there are assets or factors the servicer weighs heavily.

Typically the lender approves specific costs as part of the net sheet. In some cases, commissions/fees are negotiated or limited by investor guidelines.

The Buyer can ask for concessions, it will be up to the lender to approve. The main focus of the bank is to achieve their approved net number. As long as the bank receives the approval amount, the bank tends to approve reasonable and customary closing costs for the buyer.

Concessions are often scrutinized in short sales because they can reduce net proceeds. The lender/investor will usually approve or deny them based on the net sheet and market norms.

Our philosophy is anything is better than a tanked credit score and a foreclosure, especially for our young military sellers. In most cases, foreclosure is usually more damaging and longer-lasting than a short sale, but the exact impact depends on your payment history leading up to the sale and how the account is reported.

It depends on the lender, your credit rebuild, and the overall file. Some lenders require seasoning; others focus more on re-established credit and compensating factors.

Most underwriters look at: the cause of hardship, the pattern of late payments, whether you re-established on-time payments afterward, debt-to-income, and overall stability. Reserves and clean credit since the event help.

Almost always, yes. A short, factual explanation plus available documentation is typically required.

In most cases, yes. The earlier you start, the more options you have: pricing, buyer selection, foreclosure postponement requests. If there’s a foreclosure sale date, speed and a complete package are critical.

Most of the process can be handled remotely with e-sign where allowed, overnight mail, and remote notary options depending on the documents and county requirements. Some documents from the lender will require a physical signature, typically the hardship letter and any IRS documents require a physical signature.

It can affect how hardship is explained and how the lender evaluates finances, but it doesn’t automatically prevent a short sale. Clear documentation is key.

These items usually must be addressed on the settlement statement. Whether they’re paid in full, reduced, or negotiated depends on lien type, priority, and what the lender approves.

Property taxes usually have to be handled at closing because they can be a priority lien. Title will identify what must be paid and what can be prorated/settled.

For the short sale itself, vacancy doesn’t automatically disqualify you, but occupancy can affect property condition, showings, and timelines. The bigger issue is keeping the home secure and preventing deterioration.

You should plan to be out by closing unless there’s a specific arrangement approved by all parties.

Rent-backs can be complicated in distressed sales because lenders and buyers may not allow them. Sometimes a short “post-occupancy” agreement is possible, but you should assume move-out by closing unless explicitly approved.

Often the “cleanest” wins: solid financing, minimal contingencies, realistic closing timeline, and fewer concessions. A slightly lower but cleaner offer can be more likely to reach closing. The North Carolina Short Sale Addendum will be provided to you for review which states all offers will be presented to the servicer and the servicer can decide which offer they would like to proceed with.

Lenders usually prefer whatever is most likely to close with the fewest issues. If the home has condition problems, cash or conventional can reduce repair/appraisal hurdles.

It varies widely. Response time depends on package completeness, valuation timing, negotiation needs, and lien complexity. Expect “weeks,” not “days,” in many cases.

Set expectations up front, choose patient buyers, keep documents current, respond fast to requests, and use a strong communication cadence. Also, avoid accepting offers with unrealistic closing deadlines.