We are prepared with money down and hoping to purchase a lender owned or from a traditional seller in the next few months. Credit took a hit when we had 3 medical issues with kids in 2010. Should be ready to purchase outright in as little as 5 months, as many as 15.
Do you have an agent? Get a buyer's agent...it costs you nothing, gets you everything you need. You will get the negotiating help you need. It may be that a good agent could help you use your saved money to buy on a contract for deed which could, after seasoning, be the asset to assist you in getting a good property and a good price. If you want to know more about these ideas, call me. Liz, 612-986-4105