Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
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If you are planning to pay cash, you shouldn't have any wait at all. Just to be sure, have your short sale approval document reviewed by an attorney, but in all cases I'm aware of, if they released you from future obligations you are free. If they maintained the right to pursue a deficiency judgment, I'm not sure how owning a home versus having the cash to buy a home would make much difference.
To be safe, spend a brief time with an attorney and your paperwork from the short sale.
If you need a referral to reasonable one, let me know.
The type of financing you are looking for will determine the lenghth of time between a short sale and new purchase. For a conventional loan. you are elgible to buy after 2 years with a loan to value ratio of 80% or less. You would need a 20% down payment to buy within 2 years. For FHA financing you are typically eligible after 2-3 years depending on your situation at the time of the short sale.
Hope this helps, good luck!