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In the end, short sales are almost always damaging to your credit, but they do less harm than foreclosures or bankruptcies. A short sale might block you from a mortgage on a new home for two years or so, but a foreclosure or bankruptcy could keep you out of the market for as long as seven to 10 years.

Can You Negotiate A Short Sale? It is entirely possible to negotiate a short sale, but doing so can be a time-consuming process. Instead of negotiating with the seller alone, as is the case with most traditional sales, short sale negotiations must be approved by the lender, too.

For a regular home sale, the seller would use the proceeds to pay off the original loan. In a short sale, the home sells for less than the seller owes, so the lender won't get all their money back. As a result, the original lender must agree to the sale. The seller must prove they have no other option.

The home seller may counter with a higher price than the buyer's original offer, but lower than the original asking price. If the buyer thinks the price is still high, they could counter it.

9 Tips for Negotiating Prices with Customers Give your price first. ... Know your priorities when you walk into the negotiation. ... Maintain a collaborative stance. ... Stay firm in defending your stance. ... Avoid ambiguous language. ... Defend your positions with facts. ... Remain open to concessions, but don't concede too quickly.

Although the short sale property will be priced ing to market value, the lender is highly motivated to sell in order to cut the bank's losses. As a result, buyers can often get a better deal on the home than they would if it was purchased through a typical sale.