A complete package is essential in closing a short sale transaction.  The following is a list of the MINIMUM contents of a short sale package:
REALTOR:

• Signed letter of authorization from seller authorizing you to negotiate with the lender on their behalf.
• Letter of facts about the property.   Everything that is wrong with the property and why it is impossible to sell it at a higher price.
• Current Market Analysis.  Click here for a property profile (Contact me for password).  Highlight comparable sales that reflect the lower value.
• Photographs.  Remember, the photographs aren't to highlight a charming house.  Photograph evidence of damage, bad location, etc...
• Evidence of all showings and feedback.  Explain to lender results and conversations you've had while trying to sell the property.
• Copy of listing contract.
• Copy of purchase contract if you have one.
• Make sure the seller has a detailed, tear jerking letter of hardship.

SELLER:

• Two years tax returns and W-2's.
• Three months bank statements.
• Detailed monthly budget.
• All mortgages with account numbers.
• Pending bankruptcy, or other action.
• Tear jerking hardship letter
• Pay stubs for last 30 days.