Short Sale contracts require a TREMENDOUS amount of additional care, time & consideration from both the client and the agent. Without the guidance of an experienced agent, a buyer may be at risk of losing a deal as a result of misunderstanding conditions or time frames or, at the last minute, find themselves forced to negotiate less favorable terms.


1. Start talking with the bank as soon as you know the property will be short – this can save weeks in the short sale process.
2. Price the property to market – don’t waste time hoping it will sell for more than that.
3. Get a “Bank Approved Price” if you can get it, then price the listing at this level.


1. Know that an offer will be a short sale before you submit it.
2. Understand the process of a short sale – make sure they understand the Short Sale Addendum, make sure your agent understands it as well.
3. Have your agent talk to the seller’s agent before submitting the offer – what can they tell you to help out.
4. Be patient.
5. Make sure your agent is relentless with the other agent and feedback from the bank.
6. Don’t stop looking for deals – the buyer can get out at any time.
7. Make sure that you see the HUD before it goes with the contract to the bank for Short Sale Approval. Once the bank approves something, they will not change their acceptance and take less.
8. Be prepared to accept all defects with the property found in an inspection or walk away from the deal. The bank will fix NOTHING unless it materially changes the value of the property and they cannot ignore it (holes in the roof, mold problems, etc).
9. Double check everything – if there is a math error somewhere, it always costs the buyer.
10. Be prepared to be countered by the seller after they get a response from the bank or a better offer.
11. Time is NOT your friend – it allows someone to come in and offer more and kick you out.

Short Sales offer the opportunity for buyers to find a great deal or for sellers to negotiate themselves out of all or a portion of the debt that exceeds the value of a property. Before you jump into the process or write an offer make sure you are working with an agent who is an expert with this process. As much as there exists an opportunity for a deal, there are pitfalls and ways to lose out throughout the process.

Graham4 welcomes the opportunity to help you through the short sale process. Our team of 8 has the most Short Sale experience in Jackson Hole and can help ensure the process goes smoothly so that nothing is missed that results in additional costs or creates a delay that causes a deal to fail. We have a contract administrator who diligently manages timelines & costs as well as agents who understand how to structure deals that have the greatest chance for success.