Top Tips To Get Through Your Short Sale Smooth And Easy!
Facing a short sale situation? Despite their terrible reputation, short sales don't have to be a nightmare! Short sales can be complex and time consuming, but these simple tips will help you get through your short sale as seamlessly as possible!
5. Respond quickly when documents are needed.
Missing documents is the single most common reason for delays in short sale processing. Even a single missing page from a form will halt the file completely. Even worse, if you expect the lender to reach out to let you know, it could take weeks, or simply never happen at all. Your agent should be regularly following up with the lender and figuring out if anything is missing. When it is, move quickly to provide the documents to keep the file on track and moving.
4. Continue to maintain the property.
Even if you have moved away, make sure the property has power and heat, the grass is cut, and the HOA is paid. Buyers will need to be able to view the property and have inspections and appraisal, all which require functioning utilities. If you are not paying the mortgage, the lender has someone driving by the house periodically to see if it appears maintained. If it is deemed abandoned (tall grass, no power etc), the lender will move to change the locks and winterize and secure the home, creating endless access issues. Not paying the HOA has even greater ramifications.
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3. Be flexible with timelines.
Timing can be unpredictable in short sales. Approval can take a few months, but once approved closing will need to happen very quickly. It is likely in your best interest to remain in the home during the short sale so that it is easier to maintain it and so that you may qualify for any relocation assistance offered by the lender. However short sale approval letters come with 30-45 day expiration dates so once approved, everything will need to move fast. Have a relocation plan on standby and be prepared to move fast once approved.
2. Price right!
You won't be walking away with any profits, so pricing should be irrelevant to you. The only pricing concern is that it is close enough to market value that the lender will approve the sale. Besides that, you'll want to price at market or just below for the best odds at a quick contract. If 2-3 weeks passes with no offers, it's time to drop the price!
1. Choose the right real estate agent!
Since your listing agent will most likely be in charge of negotiating the short sale with your lender, your Realtor is the single most important ingredient in determining the success of your sale. Short sales are a complex specialty and few Realtors have any significant experience in the process or understand how they work. Having the right Short Sale Realtor could mean the difference between a smooth and successful short sale or ending up in foreclosure. MAKE SURE TO GET THE RIGHT HELP!
Considering a Florida short sale and need help?
We've been helping home owners short sell since 2008! We've helped hundreds move on and we can help you!
Minna has been a fantastic partner in selling our home. She was patient with us in explaining the differences between a short sale and conventional sale and helped us think through the pros and cons of each. During the process of the sale she was strategic and got us the best price for our sale. The process was painless and quick and every step of the way she managed each and every detail flawlessly.
D.L.
Last Updated on January 8, 2026 by Minna Reid
