Gary, That is a great question. First contact a agent familar with the Short Sale process. Identify the property you want to purchase. Have your agent do comparables to determine it's true value, and feasiblity of Short Sale. Complete a Short Sale Package including a Resdential Purchase Agreement (with a good honest price) then submit your package. Have a Short Sale Specialist (part of my team) follow the package until it is accepted or denied. It can be time consuming and a bit of a crap shoot. But if you do it right on the front end your chances of success are much greater. That being said, there are also Bank Owned and Normal Sales that can rival a Short Sale prices without all the long process. It is a GREAT time to buy!

Good Luck

Just because you submitted an offer to the lender MAY not mean you would obtain an executed contract. Your buyers agent can assist with all your questions

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com

Hi Gary - Get a Top Buyer's Agent right away, if you have not already done so. Provide them with all the information you have pertaining to the property. They should be able to get all the other info regarding who holds the note, 1st & 2nd mortgages etc. Good Luck!

Hello Gary,

I hope this message finds you well. A short sale is a case by case scenario and we have to consider all the factors. First we need to Id the property which you have already done. Then we need to find where the property stand along the short sale process. After we have these to two steps complete we can now adapt to the route of the successful closing. Now days is quiet easy to get a short sale close, is all a matter of having the time and the financial ability to comply with the sellers' needs.

If you would like further information or have any more questions please feel free to visit me in my website to make an appointment and take care of your next steps.

Best regards,

PM

When a short sale falls apart after approval, there is an opportunity to do a buyer swap. You will have to offer the same price as the approved offer but you may be able to close in as little as a month. Contact the listing agent ASAP.

Best Regards,

Eric Soderlund

Hi Gary,

If the listing actually said the status was Pending, it's likely already in escrow/ At the very least, the seller already received an offer and the bank is reviewing it along with the seller's hardship paperwork. I can look up the listing for you and let you know what's happening with it.

You just need a Realtor to submit an offer, and you can submit more than one on short sales. Not all short sales close, many things can happen to stop a short sale dead in it's tracks, so it's good to have other options.

Let me know if you'd like help with this.

Regards,
Cory
Independence Realty
619-825-6421

Hi Gary,

If the house is already listed on the market it has already been assigned to a Realtor so the only way you are going to be able to purchase it is through a Realtor. If you are a serious buyer let me know and I'll pull up all the information on it.

Ben Altman
Century 21
(619) 890-1063

Hi Gary,

If you're planning to pay cash, connect with a realtor in your area to write up an offer for you.

If you need financing, connect with a mortgage professional to review your options, first.

Best regards,

Elva Wormley
Cobalt Financial Corporation
Toll-free (866) 573-3331