[quote=DataAgent]If you like the house and the price, you may be the perfect short sale buyer. Depending on the lender, short sales can take months and be a roller-coaster ride while you’re waiting. I’d get good 3rd party advice. Maybe hire a real estate attorney to look over your deal. There’s always the possibility the lender forecloses and you end up with an eviction notice.
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I would recommend calling an agent who can show an established record of closing short sales.
THe above post is correct that you really might be the perfect buyers on this short.
The attorney route can get both pricey and inaccurate. I have found a lot of atty’s do best as litigators and not so good as straight counselors. That would be different in re attorney states (eg: NY, NJ) but here that money is best spent elsewhere.
If you want free info, you can ask me or sdr here.
We both handle lots of these (by the way sdr, nice to finally meet you). I am teaching a seminar on buying shorts thursday eve. Its really about counsel and persistence rather than magic.
