Short sale help

[Keith Smith]

Anyone willing to share any tips or advice on purchasing a short sale? How different is it from just a normal buying of a property on the market? Thanks in advance. 

[Russell Brazil]

Every market is different, so what I am saying pertains mostly to my market.

I do not bother with short sales personally anymore. They take a lot of time, a lot of work, and almost never go through. I generally discourage my clients from making offers on them as well, unless they are aware it is a shot in the dark. However in MD, where I live, agents are barred by law from speaking to  anyone at the bank, so it makes it really difficult to get a short sale through. In DC where I also do business, it is considerably easier, and while I dont make offers on them there for myself, I dont necessarily discourage my clients from doing so.

But basically Im just saying dont get too attached to a property...you might spend 6 or 9 months under contract and have the whole thing fall apart.