Thank you all for answering this question with a lot of excellent advices!
I am glad that I asked this question here. Yes, I am looking for a home to live with my family.
My agent did work on short sales before and she once listed one for a lender. In that case, the new buyer had to pay about 20,000 on top of sales price such as unpaid HOA, prepayment penalties etc. It could get complicated even more if it is involved with two or more lenders as she said. It took some time for her to close the deal.
I am ok with other stuff but the case that Maureen described, is a bit scary for me. As time stretches, other bidders could jump in and drive the price higher. I talked with my agent more on short sale issues and she agreed on that she can work on it if I want. But I will not jump on it right now. I will examine the risk more carefully and decide my last move based on that.
Thanks a lot.
ibyon
Depending on situation, I may change my mind. - Sat Oct 27 2007, 22:01
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