Home Buying in 46060>Question Details

Lko30, Home Buyer in 46060

Ok, The property is a short sale going for 149,900 and we are first time buyers

Asked by Lko30, 46060 Sat Oct 10, 2009

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Expect the unexpected, success of a short sale depends on type of loan,how many liens and much more. What else do you know about the property.
0 votes Thank Flag Link Sat Oct 10, 2009
Don't do it.

As first time buyers, you're not prepared for the stress, hassle, uncertainty, and delays involved with a short sale. (Are you really looking forward to 3-6 months of negotiation which stands a reasonable chance of not even succeeding?)

Do yourself a favor. Work with a good Realtor. Find yourself a home you can afford that's being sold conventionally. Look into FHA loans. And if you can close by the end of November, you can qualify for the 10% tax credit for new home buyers. That time frame is doable with a conventional purchase. It's not with a short sale.
0 votes Thank Flag Link Sat Oct 10, 2009
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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what is your spoecific question...we'll try to help
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sat Oct 10, 2009
Cindi Hagley, Real Estate Pro in San Ramon, CA
MVP'08
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I'm sorry, I don't understand your question?
0 votes Thank Flag Link Sat Oct 10, 2009
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