Try starting with"have you done any short sales and if so, then how many? You might also ask if the person can give you some information as to how long the short sale will take. If they reply that they can get it done for you in 1 month, they are not your candidate. You want an honest answer.
A short sale will usually take anywhere from 3 months to +++ depending on whether you have one mortgage or two. Lastly, if your realtor says that you have to make a payment up front, run as fast as you can. Here are some things you need to know about short sales: (1) you will have to pay your HOA dues while you are going through the short sale and (2) you will have to pay for the utilities of the home while going through the short sale.
The HOA payment needs to be made because if it isn't the HOA can put a lien on the home and then also charge all sorts of exorbitant fees which have to be paid at closing. If the utilities aren't on, sometimes all sorts of weird things happen in the heat that we get in the summer. I always like to prepare all my short sale sellers for the worse and tell them the nightmares of negotiating with the banks. Here are some nightmares: (1) sometimes one section of the bank pulls the home for foreclosure while you are negotiating with the shortsale department (2) the bank may say you do not qualify for a shortsale. (3) the bank asks for more money and the buyer says no and the whole deal falls apart and (4) the 2nd refuses to agree to the terms fo the 1st.
Barring the worst, most short sales close and your horrible nighmare is over with the nasty phone calls, the demanding letters and whatever other strongarm tactics banks employ to collect. I have done a great many short sales on both the seller side and the buyer side. I know what I am doing when it comes to negotiating with the banks. it would be a pleasure to help you. Myra Gouger / REALTOR / Realty ONE Group / 702-858-9311 / firstname.lastname@example.org / www. nevadahomesdirect.com