Sun Sentinel has a compiled a simple and neat list, which you should always keep in mind:

Be patient. It takes time for the seller’s lender to review the buyer’s offer. While many lenders are moving faster, eight to 12 weeks is not unrealistic.

Be prequalified for a mortgage or pay cash. Many buyers have their financing fall through in the final hour, wasting everybody’s time.

Be prepared. Ensure that a qualified real estate agent or attorney is negotiating your offer on behalf of the seller. Many agents say they have the experience to negotiate the short sale, but they actually have a poor track record. Ask the agents how many short sales they’ve handled and how many they’ve closed.

Be responsive. Respond to e-mails and phone calls from your real estate agent.

This is a good start that should provide you with a general idea about what to expect when it comes to the short sale process. But it certainly won’t be enough to help you negotiate and close a deal of your own if you are relatively new to the concept.

Foreclosure.com can help.

We have several online educational opportunities available On Demand, including Short Sale Negotiation, Short Sale Package and Profit Big: The Lease Option Secret, which you can order, watch and learn from instantly from the comfort of your own home or office.

In addition, we have a nationwide network of highly trained real estate professionals who have completed rigorous training on the short sale process and have earned Certified Foreclosure Agent certification from Foreclosure.com Agent University.

So be sure to get the latest on this red hot real estate technique courtesy of Foreclosure.com … we’ve got you covered!