I try really hard to avoid Short Sales.

It's not because they are so much work.

It's because my buyer's get their hopes up (even after I have done my best to educate them on the perils of short sales), just to be crushed when they don't get the home.

If my clients insist on going after short sales, here is my advice.

Figure out what the place is REALLY worth. Offer 10 to 15% below it's value.

Get the offer in VERY early - within hours of it hitting the MLS.

Make sure the buyer is prepared to pay something to the holder of the second.

If the buyer does offer something to the holder of the Second, do it through Escrow.

Anything else is probably not legal.

Paul