Carolyn,

Both Gabe and Mike answered the inspections and disclosures questions that you had--quite well, I might add!

To answer your additional question--what are the cons of a short sale---there are numerous "cons" to a short sale. The worst one is that you have to be very patient when making an offer on a short sale. It can take sometimes 3-4 months before you even get a reply from the lender on your offer. True, it sometimes can take less time, but, if that happens, then you are happier! The other "con" is that not all people who are selling in a short sale situation even know if their bank will consider their property in a short sale situation. My suggestion to you is to make sure that you have a qualified Realtor working for you--making sure that they have been through the short sale process before, so they can guide you through the process.

If you have any further questions, feel free to call me or email me...

Caroylyn, Mike is correct. Florida does not require a sellers written disclosure by law, but does require that the seller disclose any material facts that they are aware of that would have an impact on the value or condition of the home.

In our short sale forms, make sure that you select the choice that will allow you to complete inspections after bank approval, this way you will not have to spend money for the inspection should the lender not approve the sale, or if you get tired of waiting for approval.

Good luck.

Carolyn, a short sale does not restrict the disclosure requirements on the seller. They may not be able to pay for any repairs, but the short sale does not allow them to withhold information from you. With that said it is always a good idea to have an inspection done and make that a contingency on your purchase contract. The owner may not be aware of a serious defect or repair that is needed! This is often the case and could affect your purchase price or your decision to purchase the home