What you need to know:

Just like a conventional, non-short, sale; Contact a Realtor and list your house. The bank requires this for a short sale. The listing will state: "Subject to Bank Approval." This means that AFTER you sign off on an offer, the bank must then agree to the offer and sign off as well.

Just like a conventional sale, make your house presentable to show to perspective buyers.

Buyers will be making an AS IS offer on your house, which means, that you will not be making any major repairs needed. If repairs are needed, the buyers should reflect that in their price. Have it available to show.

$0 to you. All of the closing costs, including Realtor commission, attorney and title closing fees,short sale negotiation fees, back real estate taxes, and conveyance taxes will be paid with proceeds from the sale.

Banking rules do NOT allow a homeowner to profit from a short sale. At closing you, along with all the parties involved, will be asked to sign an Arm's Length Agreement stating that you do not know the other parties, and that you understand that you, as the homeowner, are not allowed to receive any monies from the short sale.

There are some government programs, that you or your loan may be eligible for that allow up to $3K for moving expenses. We, of course, always inquire about these for the homeowner.