You cannot prequalify a client for a short sale but chances can get raised to have a short sale success.

• How are lenders changing their requirements for short sales, and what won’t they tell you about the new requirements?
• Is there a way to prequalify a client for a short sale?
• Do you really have to be late on your payments to do a short sale?
• What are three things you should do that dramatically raise a chance of success of a short sale — and it isn’t what everyone is saying!
• How can you get started making money in short sales?
• What should you do if you submit a package to a lender and don’t hear back from them?
• If a lender says “call us in a week” what should you do? Call in 1 week, 3 days, tomorrow, or …?

Make sure that the buyer is really sold going the extra distance because they will need to be patient through the process. It may be a few months till the short sale completes since they can take 30 days or 120 days…or even longer!

The Realtor needs to be very aggressive about pricing about the property low so that when the short sale is approved, the buyer still feels like they got a great deal. If the deal isn’t great, the buyer may walk. If the market is showing that the price is falling 1% per month…that needs to be factored in.