You need to have an agetn that understands the short sale process. It also depends on what stage of the game they are in. Often times it is advertised as a short sale before they actually have approval from the lender to take a lower amount. This is where it could take months. If the property has already been assigned a loss mitigator it should be smooth sailing for the most part. mhill@northwood.com 724-561-2795

Short sales tend to be a great value for all buyers. Don't you always have to work a little harder for the best deals? I think it is worth it!

I would have to agree with Russel's response. When dealing with banks you unfortunately work on their time, and every bank is different. The process does take a much longer time than a usual non-foreclosed, property in duress situation. This is when an agent can really help you cyphin out the deals that have several processes involved with them. Its a big enough experience and process overall being your first, than making it more complicated.

Lisa,
I was just involved in a Short Sale with one of my clients and I would not recommend it for first time home buyers. It's a long and draining experience and could take up to 6 months for the bank to approve the sale, without any guarantees that it will get approved.

Many sellers are very motivated now, so find yourself a good agent, who can find a motivated seller and get a good price for you.

Hope this helps.