Assuming you have already selected your property and the Lender has approved the short sale, there is one important thing that you, the Buyer, should do to protect yourself. I recommend that you always hire a Real Estate Attorney to shadow the deal. Most Lenders require the Buyer to use a Title Company that they select. That means, in general, that the Title Company is protecting the interest of the Lender because it is the Lender that is paying them the bulk of what they are earning on the transaction. The Title Company may not be concerned that they are transferring marketable and insurable Title to you. When you pay an attorney to shadow your short sale closing, he or she will review the transaction to protect your interest. In other words, the attorney will do some or all of the due diligence that the Title Company is doing, except that they are looking at things with the mindset of how the Buyer will be protected in the Real Estate transaction.