Just closed a Suntrust short sale.

2 Mortgages, both with Suntrust
First balance $200,000

Second balance $38,000

Sales price $185,000

Closing costs included 3% toward buyers closing costs, 2010 taxes, 6% commission, state doc stamps and title insurance

Net to first $163,687.17
Net to second $3000

Seller contribution $3880
Seller contribution $6000 prom note 0% over 10 years

Time line:

Aug 3 package submitted
Aug 10 BPO ordered
Aug 17 negotiator assigned
Oct 1, short sale approved
Nov 9, short sale closed