You need a Realtor with experience in short sale and foreclosure to analyze your situation and develop your options with pros and cons. My experience is that every case has unique aspects, so until a professional has an opportunity to really evaluate your case, you are probably just going to waste time and become confused.
You would not be obligated to use (list your home) with the first Realtor you see, and you might want to have more than one Realtor interview. If you are selling because you need to move, that is one thing. If you need to sell for financial reasons, that's another.
Here are 2 steps to get started:
1) Call your lender and ask for all of your options including Short Sale. The lender probably has forms they will send you or that you can print from their website that will help you get started with the process of a Short Sale or other options.
2) Call a Realtor and get your home listed. Let them know you are looking to do a Short Sale and choose a Realtor who knows how to work with your special circumstances.
That is the simple version that should get you started. You will need to be able to show that you have a hardship for the bank to consider you as a Short Sale candidate.
Please read some of our bog posts about Short Sales:
Email me if you have specific questions. I am a Certified Distressed Property Expert (CDPE). I have successfully helped many homeowners avoid foreclosure this year.
MaryAnn Donahue ABR, CDPE
Home Office 610-998-1675
RE/MAX at Jennersville
650 W. Baltimore Pike
West Grove, PA 19390
Licensed in PA, MD, & DE
If you can give me a call I would be able to go over both sides of a short sale with you.
I look forward to hearing from you!
Keller Williams Realty Group
O: 610-792-5900 Ext 8177
"A Refreshing Real Estate Experience"