Am I the Right Buyer for a Short Sale?


    

1.  Are you able to write an offer with few or no contingencies?

2.     Do you have a home to sell? Offers cannot contain this type of contingency.

3.     Are you patient and have time to wait out months of delay?

4.     Are you flexible with a closing date?

5.     Do you have the resources to repair and rehab a property that needs work?

6.     Do you understand that the lender will be making the final decision on price and terms, even though the seller signs the contract?

7.     Are you willing to consult an attorney regarding home inspections, earnest money, the contract and forms, and for advice on all other legalities?

8.     If you are a cash buyer, are you willing to show proof of funds?

9.     Are you willing to be pre-approved with a lender? 
10. Do you understand that even though this is a short sale the sales price needs to be “reasonable” in the lender’s eyes? The sales price might even  be higher  than the list price.