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The Idaho short sale process can be complex, and there are about to be more of them on the market due to the government's new Home Affordable Foreclosure Alternative plan that debuts on April 5, 2010. This plan will offer incentives for both lenders and borrowers for a completed short sale.

A short sale means that the lender is willing to accept less than the balance owed as payment-in-full on a property. This helps homeowners who have found themselves upside-down, owing more on their property than they could possibly get by selling it in the current market conditions.

The purchase process can often take longer for Idaho short sales. Lenders often take months to respond to an offer, and can leave potential buyers waiting for long periods of time only to turn down an offer they're not willing to accept. Buyers should make offers carefully - while you want to get the best deal possible, you also don't want to risk having to make yet another offer and waste more time because your initial offer was too low. You should also plan ahead and be prepared to wait several months before receiving a response. This is particularly difficult for buyers who need to move quickly - who have already sold their primary residence and need to vacate the property wtihin a month or so, for example.

Paperwork for a short sale can be cumbersome, and a lot of lenders don't have a lot of experience with short sales and therefore don't know the paperwork well. Part of the government's short sale plan is to streamline the paperwork process. When choosing a lender, ask about their experience with short sales.