For a short sale, the process is a bit more complicated than a traditional sale. As a buyer, you submit the offer to the seller. The seller accepts the offer contingent on their lien holder allowing the sale to close with the bank taking a loss on the mortgage. Once the seller accepts the offer, the buyer must wait until the lien holder approves, this can sometimes take months. Once the lien holder approves, then the sale proceeds like a regular transaction, the buyer obtains financing, deposits earnest money, does their inspection, then closes. .