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A short sale is not a "Get out of Jail, FREE" card!
Alan May nailed the heck out of this post. Just being tired of the weigh associated with a house that isn't worth the paper you signed to get it is NOT justification for a short sale.  If that were the case, we'd all wearing top hats as we pass go and collect $200.
SHORT SALES... the bane of our existence.  But like it or not, for the moment, they're here to stay, so better edumacate yourself.
They can be difficult, long, and still end up at the end of the day, not resulting in a transaction.  Frustrating, I know.  But the banks are becoming better and better and handling and understanding short sales.  They recognize, within reason, that a short sale is a better result for them, than a foreclosure, and they're trying.
So where does the failing in most short sales lie?  It often lies with the agents.  The listing agent doesn't understand what's necessary, and how to communicate with the bank, and the buyer's agent doesn't understand what they need to submit with the offer to "lubricate" the offer.
So.. this week, Andrea Seeley, an agent in our downtown Evanston Coldwell Banker office, gave us a very thorough explanation of ... more

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