I read your other questions and hoped that you were able to get helpful answers regarding shortsales.
I understand that it's really difficult, frustrating, and sometimes emotionally draining for a homeowner to face "shortselling" his/her home.
If this site has not been helpful, I hope you find other sites that will. You might want to try the the following sites:
Best of luck. I hope my response has been helpful or at the very least, encouraging.
Prudential California Realty
In a short sale, the lender that you owe the mortgage to is agreeing to accept less than what they owe, because you cannot sell it for the amount you owe on it AND you are unable to bring in the difference, so they agree for you to "short" them in the sale.
The lender that you are shorting may or may not have a requirement for you to bring in money to the transaction, it is not the same situation for every person, that is why you are not getting answers with a specific amount, because the answer is no one knows for sure. Most people who do a short sale don't have to bring in any money, which is why many people are saying "None".
Additionally, you probably cannot sell your home to someone that you know, it has to be a completely disinterested party.
Do you fully understand what a short sale is, how it's handled, and what requirements there are for your own mortgage lender approving you to short them on the amount you owe?
As far as Trulia it is actually a wonderful site. We do not get paid to answer your questions. We do it for the shear satisfaction of helping. You will normally get a variety of answers from across the country. The simple truth is.... a short sale is not easy, no 2 are alike and no answer will be the same for any 2 short sales and be completely correct.
PS Miranda congratulations on your purchase.
Thank you so much for affirming the information freely provided has proven useful to you.
I understand, as well as all those professionals participating here, the secret you shared with all regarding your success was:
" I FOLLOWED THEIR INSTRUCTIONS..."
You were not seeking 'Fairy Dust' but guidance, which you acted upon.
It is for you and those like you that keep real estate professionals logged on and responding to those seeking guidance.
Wishing you many happy years in your home.