What's the next step in short sale?

[Kathy Judd]

Hi everyone,

I'm super new to short sales and I'm just learning as I go. I'm not sure what to do next and would like some feedback.

I have a property picked out. The owner of the property is willing to go through the short sale. I've been able to negotiate on the 2nd mortgage and they are willing to take a reduced amount. The owner is going to submit a letter of authorization to Wells Fargo which is 1st position soon.

After that is where I'm not clear on what to do? Do I write up an offer and send it to the owner? Or Do I talk to Wells Fargo first and see if they will accept a lower amount?

Looking forward to reading your feedback.

Thanks