What makes an Effective Short Sale Negotiation?
If a home is being sold for less than what is currently owed, it is considered a short sale and is subject to approval by the lender. You are a good candidate for a short sale purchase only if:
You are very patient. Even after you and the seller agree on terms, the seller’s lender (or lenders, if more than one loan on the property) has to approve the sale before you can close. When there is only one loan, a short sale can take as little as two months; more than one loan, it can take 4 months … (READ MORE ON SHORT SALES)