Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

"I Want to Do a Short Sale" Says the Seller
 
Wendy Rulnick makes some great points in this post.  The drawbacks vs. benefits should be explored and analyzed fully before making a decision to pursue a short sale.  I would also add:  what is the average market time in your area?  If it is greater than 90 days and the seller is behind on payments, an inquiry needs to be made to see if the bank will postpone foreclosure proceedings with adequate documentation.  I would also recommend giving the buyer a document explaining the short sale process and ask them to sign it.  Unfortunately, their agent may not give them this information and you are less likely to have the buyer walk-away if they are fully informed of the process up-front.
 

I get calls daily from property owners in my Destin FL area who want to do a Short Sale.  These are the bullet points from my qualifying conversation with them:
Your lender will want to know what your hardship is. What has changed from when you first took out your mortgage until today -where you can no longer keep up with the payments?   If it's not loss of income, unemployment, relocation, medical expenses, divorce, mortgage rate increase ... more

__________________________________________________
Are you on The Rain? Grow Your Network!