Hello Lily, it depends on many factors. If you figure out what cities/zip codes your considering, minimum number of bedrooms and the maximum payment/price your looking to achieve you can be set up to receive automatic daily emails to fit your search criteria. You should be studying REO, standard sale and short sales to determine a game plan.
As a listing agent I have closed short sales as quickly as 45 days but have one with B of A going on for a year now and finally closing. You will need to be pre-approved to be able to view and submit offers on any homes of your choice. You may qualify FHA from a minimum 580 fico score and 3.5% down or as low as .5% half percent down payment program.
It only takes a few dozen questions to qualify, go over your options and email you listings too. Here are some blogs to study such as Which loan is right for me, Down payment and closing costs hurdles and Pre-approval in minutes.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
9am till 7pm Monday thru Saturday, Sundays by appt.
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
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Zillow is a great tool to get a "ballpark" estimate on your home if your are just curious, but if you are serious about selling or refinancing, it is always best to get the expert opinion of a real estate professional who will use relevant comparables to come to an accurate valuation.... more
In California, we have a short sale addendum that gives the buyer the option to either hold on to the deposit and wait for the bank to approve the short sale before entering escrow., or you can open escrow, sign over the deposit and begin the inspection and escrow process. A good strategy is to go ahead and opt for opening escrow and moving forward before the short sale is approved. A bank is more apt to review the file that is nearest closing.... more
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