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Has anyone bought a house that was listed as a short sale?

What are the steps do you just deal with a Realtor from the start? I heard first you have to find a bank that will actually lend you money then start looking is that true?


Asked by Anonymous at 2:01 PM on Aug. 17, 2010 in Home & Garden

This question is closed.
Answers (5)
  • I recommend getting pre-approved by a reputable lender first. Then you know how much you can afford. Short sales can be a great deal, but they take time and patience because you have to get bank approval. That being said there are some great progeams out there, just be sure you are working with a decent lender (get a recommendation from someone you trust if possible) Good luck

    Answer by NHRachel at 2:04 PM on Aug. 17, 2010

  • I would get a realtor from the start....I bought my house short sale and except for the fact that we paid a low price I wasnt really affected by realtor did everything for us.

    Answer by Finkette at 2:07 PM on Aug. 17, 2010

  • Short sales are a huge hassle and take time. Make sure your realtor is educated about short sales.

    Answer by SalemWitchChild at 2:08 PM on Aug. 17, 2010

  • Pre-approved loan from a reputable lender and then be prepared to WAIT. The short sale in our neighborhood took almost a year to clear.

    Answer by twinsplus2more at 2:26 PM on Aug. 17, 2010

  • Time we have plenty of time so that won't be a problem lol. So that is why we want to choose this route plus it's a deal, so I guess first step is to find a lender / bank. Thanks ladies!

    Comment by Anonymous (original poster) at 2:20 PM on Aug. 17, 2010