If seller does not qualify for Minnesota short sale
, the bank would definitely reject the short sale. Disqualification may be due to invalid reason reflected in the hardship letter and availability of assets that can be used for a repayment plan. It is important that the seller's hardship letter will show valid reasons like job loss, death of family, severe sickness or accidents. There should also be a negative value on their profit and loss statement or monthly budget.
Finally, the buyer's disqualification can be a reason for rejecting the Minnesota short sale. An evaluation of the buyer's credit history, debt ratio, years on the job and other criteria will determine if the buyer is qualified for the short sale. The buyer has to submit a loan preapproval letter to gain its credibility to the seller's bank.