Owning a home is considered to be a part of the American Dream. Attaining it is something which you will be really proud of. Unfortunately, unexpected problems arise and you are faced with the possibility of losing your home to foreclosure due to mortgage default. The only good thing about facing this situation is you know you can try to prevent the bank from repossessing your home with a Florida short sale.

Truth be told, a Florida short sale can be considered a great deal or a nightmare. The turnout will depend on how you will handle the situation. Consider the following factors:

· Preparedness – You have to realize you are in a very serious situation and just like with any battle, you should come prepared. You need to understand the job of convincing the lender you are qualified for a short sale is in your hands. You need to prepare not only the documents needed to support your claim of financial hardship but also your mind and emotions. A short sale can test your patience and you can expect a lot of bumps along the way. If you fail to prepare yourself, you can expect your proposal may be rejected.

· Working with a Realtor – Although you have hired a sort sale expert to help you with the proposal, it still does not excuse you from being ignorant of the details of the transaction. You should be involved with the entire process and do not hesitate to ask your agent if something is not clear.

· Looking for a Buyer – One of the important ingredients of a short sale is finding a buyer who will have the patience to wait for lender approval. It would help if you make it clear with the buyer what he or she should expect. There are buyers who do not stop looking for short sale properties to buy and this can be a problem for you. Thus, it is important you keep constant communication with the buyer and give updates about the status of the proposal.

· Negotiating with the Lender – You can expect your lender to be concerned about their interest and there are times when their demands can be frustrating. At difficult points, your Realtor should be able to handle such demands and make sure you are protected.

The outcome of a Florida short sale will largely depend on you and your Realtor. Of course, at the end of the day, it is the lender who has the ultimate say on the matter. At least, you know you did your job well and you fought a good fight instead of standing around and waiting for the foreclosure notice.