Short Sale Info

[Rich Sutherland]

Hello All,

Relative newbie here!

I am seeking information on a short sale in CT. How exactly do these work and is there much movement on the price listed?

If, for example, the house is listed at $200,000, could we bid around $160,000 or would that just be knocked back straight away?

Should we use a specialist realtor with short sale experience?

Ive heard short sales can take a while to process, how long would an average short sale take (from initial bid to moving in)?

If we bid at the listed price, is it '1st come 1st served'?

Thanks very much for any feedback you may have. We have a new born and need to find a bigger place that works within our small budget. A short sale is looking like the best option for us at this moment in time.

Cheers!