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Updated about 10 years ago on . Most recent reply

User Stats

467
Posts
107
Votes
Charmaine M.
  • Queens NY, NY
107
Votes |
467
Posts

1st Short Sale Purchase..

Charmaine M.
  • Queens NY, NY
Posted

So, I just heard back from a listing agent that my offer has been accepted by the seller for a Short Sale. 

This will be my first purchase and wanted to ask if there is anything  I should be aware of?

I know it a long tedious process and for the price i am will to go through the process. The agent has not presented the offer to the back as of yet, we are meeting later on to discuss in more details.

Any advice or suggestion is always appreciated.

Thanks

Most Popular Reply

User Stats

37
Posts
22
Votes
Shawn Pennington
  • Flipper/Rehabber
  • Nashville, TN
22
Votes |
37
Posts
Shawn Pennington
  • Flipper/Rehabber
  • Nashville, TN
Replied

I've only bought one short sale, in Kissimmee, FL...everyone told me it was gonna be a LONG process etc etc, but for whatever reason I lucked out and closed within about 45 days! I'm sure that won't happen again...but I guess it all depends on the bank. I did a little extra heavy duty title searching based on the circumstances of the previous owner.... But other than that it flowed like a normal sale.

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