No, I’ve never purchased a “short-sale,” no_such_reality, but have represented two buyers in them. It was so long ago (18-19 yrs) that, believe it or not, at that time there was NO COMPETITION to slog thru this sewer but my buyers. In both cases, my buyers needed the particular location and size of home/lot due to nearby support systems (family/caregivers) and hung tight to get it done.
Your post is an apt description of the “bribes” that I have no doubt take place to get the “short sale” of today done and I do agree that for a “winning” (lol) buyer, having only 20% of the purchase price on hand is low (depending on area of property).
no_such_reality, can I just ask, in hindsight, do you now think you got a “good deal” on your “short sale” property? And would you go thru this lengthy “skirt-lifting” procedure again in order to purchase property??
