A short sale is a real estate transaction where the sale of the property is less than the balance owed on the mortgage. Short sales can occur when property values decline and the borrower cannot pay their monthly loan payments. It is a situation where the lender decides that a smaller loss is the best option. Short sales are a way to avoid foreclosure and can be a cumbersome process.

That is why the choice of a real estate agent with a Certified Short Sale Negotiator Designation (CSSN) is the BEST choice. Real estate agent with the experience and knowledge of short sales can get the job done.

In our tough economy, short sales are a large part of the real estate market. For your protection with these now common transactions, a CSSN’s services are even more important.

Expertise can be a necessity from both a buyer and sellers point of view on a short sale. Tax and deficiency laws can vary from state to state. CSSN’s are up to date on these laws but may refer a short sale participant to a real estate attorney or CPA for legal advice.

Each lender has different requirements and a borrower may have to submit different types of documentation for each transaction. A letter of authorization, a hardship letter and proof of assets and liabilities are a few of the documents that may be required.

Your CSSN can provide all of the necessary real estate information needed such as a comparative market analysis and listing information. These agents also have the necessary forms such as a purchase and listing agreement.

Negotiation with lenders can be a dragon and a long cumbersome process. This is where your CSSN is an imperative part of a short sale process. Experienced in the negotiation tactics of lenders, these agents know how to navigate and shorten the short sale process as much as possible.

CSSN’s also can give great advice to a buyer of a short sale. There are certain techniques that are more successful in the purchase of a short sale. For example, by submitting a shorter inspection period and not asking for repairs can make an offer more appealing to a lender. Many other techniques can be used and a CSSN knows best.

Whether you are interested in listing or buying a short sale, look for an agent with the CSSN designation.