The transaction coordinator short sale checklist.
The transaction coordinator is often the person who keeps a short-sale file from stalling. This checklist lays out what to track: what to track, requirements vary by servicer and investor, so use it as a starting point and confirm the specifics of each file.
What to track on every short-sale file
A short-sale file has more dates and moving parts than a standard transaction, and the coordinator's job is to know where each one stands. Requirements vary by servicer and investor, so treat these as the things to track and confirm, not as a fixed national schedule. The short-sale process and the documentation guide give the underlying detail.
Document expirations
Track when every income, asset, and hardship document expires so the package can be refreshed before the servicer asks.
Seller authorization
Confirm the seller's signed authorization is on file, current, and sufficient for each document or payoff request before anything is shared.
Lender requests
Log every request from the servicer or investor, what was sent in response, and when. A dated trail makes follow-up professional.
Offer dates
Track when each offer was submitted, countered, and approved, and which approval ties to which offer.
BPO dates
Log the BPO request, inspection date, and result so valuation issues are caught early rather than at approval.
Approval expiration
Calendar the approval letter's deadline and any extension request path. Deadlines vary and extensions may be possible, but they must be requested early.
Closing deadline
Track the closing date against the approval deadline and the buyer's financing timeline, and flag conflicts before they become emergencies.
Junior lien and title status
Track the status of every junior lien and title issue, including short payoff requests and HOA assessments, so nothing is left to closing.
Seller document refresh cadence and communication logs
Set a cadence for refreshing the seller's documents so income, expenses, and hardship evidence stay current through the whole process. Keep a communication log of every touch with the seller, the buyer, and the servicer, with dates and next steps. The log is what lets the next person pick the file up without losing context, and it is the backbone of the closing checklist when approval arrives.
Related resources
- For real estate professionals
Support for transaction coordinators and the teams they support. - Short sale documentation
The package and refresh cadence to track. - The short sale process
The milestones the coordinator calendars. - Short sale closing checklist
Carrying the file through to close. - Junior liens and HELOCs
Tracking short payoff requests. - HOA liens and title problems
Tracking title clouds and assessments.
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Coordinating a short-sale file?
The team helps transaction coordinators set the tracking and refresh cadence that keeps files from stalling.