Remember, more than one lender may be involved in a short sale. It's common for a struggling homeowner to have a second mortgage or home equity line of credit, and you need those lenders to approve the short sale, as well. This can make the whole process more difficult, since often those "junior lenders" end up eating a big part of the loss. Of course, you'll want to deal with the main lender first, but don't forget to check for any other liens on the property. Skipping this step can lead to major difficulties later on in the process and will definitely slow things down.