Short Sale Question

[Amir Saeed]

In short sale when there is only one realtor for the buyer and seller. When the realtor lists the property in MLS. Does he have to list the property at a FMV (considering other comps). I on the other hand (buyer) can make an offer based on what the property value is worth FMV minus any rehab cost. Is this true.

e.g Lets say the property ARV value is around $200K. Can the realtor list the property around $150K. On top of that if I make an offer of $100K. Do I have to justify my offer (repairs...etc). How the bank looks at all this?

Any tips would be nice....Thanks.