Short sale stages

First I would like to send a warm Happy Holidays and Happy New Year everyone.Being that I am new to the industry, I learned a good way to generate cash would b through short sales. In the past 2 weeks I have come across 2 potential deals. My questions are what a basic info needed to confirm a short sale deal and what are the proper steps in taking the deal from beginning to end(i.e)docs,persons to contact,proposals needed. I know I am asking alot of you guys but this information provided would be greatly appreciated. I would like to thank everyone in advance on the forum. ;D

I too would like to know.

Thanks in advance. Joe

New year sounds great and and a good one!
Short Sales - Typically once you locate a distressed buyer in almost foreclosure stage, you would contact the lender. Get an authorization form signed by the homeowner with loan number, address, etc. Fax to lender and commence negoitations. Note: do this well in advance as usually this process may take 2-3 weeks (do not wait like I did one week befoer foreclosure and scrambling like heck!!) Ask for a short sell, lender will send out a “short sell packet”, note make sure you also have a letter of hardship signed by the sellers (also make sure the sellers are out of the mediation stage with the lender-lender will not negotiate with you while this is happening), signed contract from the sellers as the lender will ask for this. The lender will advise you over the phone of their requirements. Gather all your info and submit. Good luck!!