Hello Louis,

Michael is correct in his answer.

In addition, if you were a seller, I would send you more information regarding qualifications for the short sale. However, since you are a buyer, I am assuming you are wondering about the buyer side of a short sale. That said, I can tell you that you need to find an agent that is experienced in short sales. There can be much negotiation that goes on behind the scenes and you will want to make sure that your agent knows how to do that effectively. Also, be prepared to wait several months or more to actually get that offer accepted by the mortgage holder and get to close. If you go to the CDPE web site, you can find a qualified agent in your area to help you. (Certified Distressed Property Expert) Also, look at their other designations and experience.

Hope this helps.

Linda S. Cefalu

Hi Louis,

Very Simple, Short sale is an application made by homeowner to the lender asking to accept LESS then the balance on the mortgage owed to the lender .Not everyone can be qualified.


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