Steps of doing a shortsale

[Isaac El]

I have been making lots of cold calls to pre-foreclosure, and I found one that the mortgage is higher than what the house is worth so need to do short sale.  I have never done one before, can anybody share the steps with me?  What is the procedure? Are there forms I need to prepare?

Thank you.

[Wayne Brooks]

The steps are:

1) Find an experienced short sale real estate agent, as one will be required by the lender anyway.

2) Do what they say....there are about a dozen different things to consider...you will not be doing this yourself.

If you don't have a legit POF or preapproval, or if you're trying to wholesale, don't waste your time.