Negotiating a short sale requires navigating a paperwork-intensive process that also involves a lot of communication and follow-up. The short sale facilitator helps with all of this.

To be more specific, the job includes acting as the primary point of contact between the lender and debtor, and keeping all other parties in the transaction in the loop. Negotiators keep everyone on the same page for every step of the process. That includes the appraiser, buyer, and real estate agents involved in the sale.

In working with the lender, processors use their knowledge and expertise to negotiate a sales price and terms that are in the seller’s best interest. They escalate requests, track down “missing” documents, and get timely updates and answers throughout the process.

Short sale processors also help with paperwork completion and make it easier to pass a significant amount of documentation back and forth. Then, there are multiple rounds of document requests and waiting for signatures during short sale processing.

Follow-up is another one of the services performed by a short sale specialist. Activities include proactive, regular contact with the lender. Examples are confirming the right information gets to the right people and staying on top of the lender to keep the process expeditiously moving.

The most accurate answer to this question is: It depends. While some short sale processing companies say 3-5 months is an average time frame, no two cases are alike. Therefore, the short sale process timeline will vary with the situation.

Here are some of the more common factors that can extend the timeline:

Multiple lien holders: All lenders must approve the short sale and its terms. So, if an owner has more than one mortgage on a house, lien holders have to negotiate. This could stretch the process out.

Slow-moving property: There has to be a purchase offer for a short sale to be completed. If the property lingers on the market, the timeline will be longer.

Rejected purchase offer: If the lender doesn’t accept the sales price and the buyer won’t make another offer, it’s back to the drawing board. More wait time gets added on to find another purchaser.

Government involvement: The process is typically bureaucratic and even more time-consuming when a government entity controls the sale.

Buyer cancellation: Sometimes, buyers get frustrated waiting to hear back from the lender. Or, they could find a home that closes faster. They may withdraw the offer in either case, which starts that part of the process over.

It’s not uncommon for the property buyer to pay the short sale negotiation fee. In this instance, they sign a contract upfront with the negotiation company when submitting their purchase offer. The cost is included on the final settlement statement and paid at closing.

Sometimes the real estate agent(s) involved in the transaction will pay the fee. It comes out of the commission at the closing table.

In other situations, the lender might absorb the cost of the short sale coordinator. However, they won’t do so more often than not, given that they are taking a loss on the property.

To avoid confusion and surprises, you should be sure to ask the company in advance who will be responsible for the fee and how much it will be.

Given the complexity of the process and intricacy of the negotiations, you’ll want to find a reputable short sale professional with proven results.

Here are some approaches you can use:

If you’re in the real estate business, ask for referrals from your network. Chances are, someone in your orbit has sought short sale help in your location.

Ask an agent or broker you consider to be a reliable advisor if you’re a property owner. Also, pose the question to close friends and family members.

Check with the chamber of commerce in your community to see if any short sale companies are members. You can usually access member information online.

Connect with a Real Estate Investors Association near you. The National REIA has a chapter locator on its website.

Keep in mind that you’ll still want to do additional vetting of referrals to confirm expected quality and balance any bias. That requires extra legwork, which takes more time.

The RealEstateBees.com directory is the easiest, most effective way to find the top-rated short sale coordinators in your area. We’ve done the research and evaluation for you. Plus, our list is unbiased, and all of those on it have proven track records. All you need to do is browse the choices and then connect with the best local professional for your specific situation.