Creating a short sale?

[Dennis Yosco]

good afternoon BP,

Looking to see if anyone here has ever "created" a short sale. I have 2 leads that are solid homes but they owe more than I can pay. At their current state they are worth less than what's owed and still need repairs to boot. So what Im looking to do is see what the steps I can take to help get them out of the property, let them walk away with some cash and I get the house with room to play.

Has anyone done this before, if so how. Im in Northern NJ if that matters. 

[Bob Reinhard]

Greetings.
+Determine area values.
+get authorization from owner to deal with the lender.
+Determine amount owed
+get property listed with a broker.
+Get all paperwork needed by lender.
The above order is stream of consciousness

Be persistent ... It could take months.

Much success.

Bob