After submitting your short-sale proposal, call the next day to make sure it was received. Offer to answer any questions. Expect your first offer to purchase the property to be rejected. Most likely the lender's representative will counteroffer or tell you to come back with a higher offer.

At that point you can offer more or walk away. Persistence will pay off. The lender's representative needs to show that a higher offer was attempted. Negotiate over the price, emphasizing your position as to the value of the property in its current as-is condition. The negotiation for the property can go fast or be excruciatingly slow.