Short Sale Newb needs help.
March 28, 2009 4:33 AM Subscribe
Need more advice on how to proceed with a real estate short sale.
posted by pearlybob to work & money (14 answers total) 5 users marked this as a favorite
We are looking for a new home and have found one that we love but it seems a bit overpriced. The realtor told us that they completely renovated, had a huge loan and then lost their job. They haven't been able to sell for what they owe so they want to do a short sale. Their bank has told them to bring them an offer.
Their are a few posts on mefi that touch on the subject but I'd like a little more info. How should we proceed if we want to try to take advantage of a short sale price? What questions do we ask? The realtor indicated that she's done 2 in the area and can represent us both through the process. It is a small town and she has a stellar reputation to protect, but is this a good idea? Anybody bought a short sale and have advice? TIA!