In a short sale, the homeowner takes on the role of short sale seller, becoming responsible for finding an agent, selling the home, and the majority of other steps involved in the sale process. There essentially are 5 steps to selling a short sale - The first step, valuing the house, will involve a real estate agent or other licensed assessor, who will confirm property value through Comparative Market Analysis. Secondly, the seller may wish to consult with a lender, not only regarding the legal aspects of the sale itself, but also to receive advice on whether or not the sale is beneficial from a legal perspective. If the homeowner makes the choice to proceed, an accountant or other IRS representative will need to guide you through tax any tax needs. The beginning of the end, the actual sale, will require that the real estate agent is again used, unless the homeowner feels they are equipped to handle sale themselves. When a buyer is found, the lender should be informed of and then approve the proposed price, after which the sale can be finalized in the appropriate manner.