My neighbor just bought their home through a short sale and said it was very smooth. The property had already been on the market for 1 year so they caught it at the end. They offered and then the Bank came back and said they had multiple offers on the home so submit highest and best offer.
The owners submitted $5,000 more than their original offer and got the house.
It goes to show it doesn’t take much to be the winner on these things.
They closed very quickly and the owner had the place professionally cleaned and kept the water going so the yard would be in good shape. They communicated with the owner as much as possible and the bank as little as possible. For example, they negotiated the owners hot tub in the back yard face to face and didn’t involve the bank.
I thought it was very interesting how much communication they had with the seller and a good way to smooth out a short sale.