When you are negotiating your Chandler short sale there is most likely going to be a point where your bank is going to counter offer and you will accept the deal. That does NOT mean you have an agreement. That means based on the guidelines the investor behind the loan has given the bank who is servicing the loan, the deal is good enough to be submitted to the investor for final approval.
After you and the bank come to an agreement the deal is sent to the investor to be approved. Often the investor is going to come back and say they need more money, a cash contribution or a promissory note from the seller. This is often negotiable, but expect that to happen.
So don’t be surprised when the bank you thought you had a deal with all of a sudden says they need more money. This is when the real negotiations begin. Until you get the final approval letter in writing in your hands never assume you have a deal.