There is generally nothing typical when deal with a short sale. The short sale transaction can be complicated at times but if you are organized it will make a huge difference. Many short sale deals fall apart. These are the basic steps to a successful short sale.
1) Counsel Seller on alternatives to a short sale
2) Recommend Seller speak with attorney or tax professional
3) Execute Listing Agreement
4) Gather all required paperwork from Seller
5) Market property
6) Receive bona-fide offers
7) Discuss potential commission reduction with buyers broker.
Review offers with Seller and Seller accepts offer.
9) Execute contract and addendum with accepted buyer
10) Submit completed short sale package to lender
11) Follow up with lender to check the status of short sale package.
12) Receive approval from lender and review with seller
13) Deliver accepted short sale package to buyer
14) Proceed with closing.
