With the rising need for short sales, even real estate agents are finding it necessary to take a short sale course in order to become more educated on the process. Sellers, who are directly affected, should also be properly educated on the important aspects of a short sale. Unlike other sales, short sales are sold at a price that is lower what is owed on the mortgage, and tends to be lower than other similar properties on the market also. For homeowners that have chosen to enter into a short sale, it is of great importance to make sure that, in completing a short sale, the balance of the loan is forgiven. Though most do, lenders are not required to forgive the remainder of the loan, so this concern should be addressed before any paperwork is consented to. Tax-wise, issues are also present in the short sale process. Preventing any later trouble with the IRS, an accountant should be consulted to learn about how this aspect should be handled. It is also important to know that short sales almost always affect your credit. Of course, the negative impact is less than that of foreclosure, which is what makes a short sale sometimes worth the loss.