Short Sales challenge us to be kind. There are many people involved in a short sale all of whom have must to loose and or gain in the transaction. The business ethic of win'-win becomes an issue of selfishness or kindness.

My current thoughts as a listing agent of short sales is to see that the property is improved over the months of a short sale process. If a home has two loans on it from two different banks or lending institutions you can expect a long negotiation period. -- 45-90 days. During that time I have on two occasions had 2 offers go in and out of escrow on to close on a third offer.

The critical pieces are to talk with the loss mitigators and work out the agreed settlement amount from the 2nd and the 1st. Continue to market the home and lower the price regularly so that you always have a good or better backup offer if your primary disappears.

Remember to not submit an incomplete short sale package. It must be complete and easy to understand. The hardship letter must be compelling.

A short sale is much better than a foreclosure on your credit and can be less painful if done with a CDPE.

Tish - Tom Tischer, Associate Broker, CDPE (Certified Distressed Property Expert) 480-231-0782