Natalie, you are correct. If you don't close by the end of the redemption period you will not be able to purchase it short sale. However, if you are able to wait until the bank puts the home back on the market you can purchase it then. In many cases the short sale listing agent has already been contacted by the listing agent that the bank will be marketing their home with and can share that information with your agent so that you can be alerted as soon as the home is back on the market. - Sun Dec 13 2009, 20:24