On some short sales the negotiator assigned may determine a promissory note may not be required for submitting a short sale offer to the investor/lender for approval.

On other short sales the negotiator assigned may determine a signed promissory note will be required before submitting for investor/lender approval.
However, even though a short sale offer may look fine to the negotiator (based on the offer, seller’s current financials, etc) and he/she submits for approval does not mean the offer will be approved upon review by the investor/lender.
There are times the offer may come back as ‘non-qualified’ unless all revision requirements are met. One of these requirements may be a promissory note signed by the seller. If the seller agrees to all the required changes, then the negotiator will make the necessary revisions and re-submit for approval with investor/lender.

Keep in mind not every short sale offer requires a promissory note by the seller. This usually depends on who the investors/lenders are and which financial institution handles the short sale negotiations .
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