“In the past you’ve said to avoid buying a short sale. Now I see you have several short sales for sale. Do you still advise clients to avoid buying short sales?”
Answer:
Great question.
Given the choice between buying a home that’s a short sale and one that isn’t, I still recommend the latter due to the time and uncertainty involved.
However, some factors might cause you to consider making an offer on a short sale:
Most or all homes available are short sales, leaving you few other options.
It’s your dream home and you’re willing to wait months for the seller’s lender’s answer.
The short sale lender has fully approved (or at least made significant progress with) the sale to another buyer who canceled, and at a price you’re willing to pay.
Your agent determines the sellers agent has expertise in short sales and has prequalified the seller for approval. (Most agents have insufficient short sale experience or knowledge.)
If you see that we have a short sale listed, rest assured we at least will meet factor #4.
