It normal to ask for 3% on closing cost and prepaids for a short sale. I would be happy to assist you on the purchase of the home and it doesnt cost you anything. My number is 813-900-6884. Feel free to give me a call.

Mike,

It's clear you would benefit from the expertise of a local real estate professional that can provide you with the guidance you require.

Our recommendation is to find an agent that will help you process information a provide you with the direction necessary to have a successful RE experience.

Good luck

Mike,
How long has the property been on the market and do you know if the bank has approved the sales price.
Short Sales generally take weeks if not months to close. It may take weeks just to get an answer to an offer.
So I would offer what you are willing to pay if its a recent listing ( under 45 days). If it is bank approved offer that price and yes you can ask for closing costs. Just be prepaired for a long wait.

Realtor Rick.

And lately some of my best sales have been Short Sales - I love Short Sale (you just have to know what you are doing and "drive the sale" instead of being a passenger)

Mike -

My name is Robin Speronis and I am the Owner/Broker of Zen Real Esate of Southwest Florida, http://www.AskZenRealEstate.com and what most people and even agents don't realize is that the asking price on a short sale is almost irrelevant. Any listing with a full short sale disclosure will say something like this"buyer understands that the listing price is not the resposibility of the seller, seller's agent, buyer or buyer's agent but is just a starting point for neogotiations. Selling price may go up or down. The final price will be set by the lender." - something like that. In other words, short sales are very complicated and the short sale has to be approved before the lender orders a BPO (appraisal) and that may be months from now - anything can happen.

I instruct my buyer's that if they like the house, we can get them in as the only offer and the asking price is in the ballpark of what they want and can pay, then place the offer and then we can revisit the purchase price question after the bank does their BPO - usually months down the line - and determine if that is a fair price at that time.

Ask the agent how many offers are in and how LONG they have been in for? Ask how responsive the bank has been? In many cases you can wait close to a year just to hear from the bank on your offer. I hate short sales. You might be better off getting a great deal from a resale or foreclosure.