Good Morning Jan,
Short sales may be purchased for investments and/or residential properties by owners.
The negative is Short Sales can take 3 - 6 months to close. Many Short Sales Realtors will take multiple offers and only submit the highest bids to the Bank/Lenders. Once they receive, it goes through a long process of appraisals, negotiators, etc all employed by the banks.
It is a gamble as you may wait months and not be successful in your purchase.
Many properties are selling for less than the previous purchased price. I suggest, you find a property you are interested in purchasing and make a reasonable offer. Many Sellers are relocating for many reasons. With this approach you can schedule a closing date convenient to you.
Connie Baker, Realtor
RE/MAX 100 RIVERSIDE
772-878-7610
Port St Lucie, FL 34986 - Wed Jun 3 2009, 05:34