Short sales are back and most buyers have no idea what they're walking into.
A short sale means the seller owes more than the home is worth. The bank has to approve the sale and they're calling every shot. You make an offer to the homeowner but the lender decides if it gets accepted or rejected. These homes are sold as is. You can inspect it but you can't negotiate repairs. And if there are multiple liens on the property, you could wait months just to hear back or watch the deal fall apart completely.
My take? Don't chase a short sale unless you have time and cash to back it up. Get pre-approved first. Run a title search before you make an offer. And hire an agent who knows how to negotiate with banks, not just sellers.
DM me directly and I'll send you the full breakdown.
