Maria are you working with a Realtor? If so that Realtor can get you all the information, arrange showings for you and guide you through the entire process. Also he/she will make sure that you get pre-approved by a reputable lender, before even looking at properties, because once you want to make an offer, you will need
that letter and YOU also need to know what a lender would allow you to borrow....
Are you a first time home buyer?
I will find out about the above property and get back to you..... what exactly do you need to know?
Edith YourRealtor4Life and Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients
To be honest, it can fall apart in the beginning, middle, or end.
Sometimes it doesn't matter how well the Realtor put s the Short Sale package together, seller's valid hardship, appraisal/BPO comes in at market value, etc.
You can be assigned a negotiator that is willing to work with you and then they are pulled off the file and you start all over with another negotiator. This can cause further delays and the foreclosure process does not stop.
We've gone through the whole process with "approvals" and at the last minute, the lender/investor throws another demand out. Some of which can be met, some can't.
You can start a Short Sale and it seems like it will go well. Other's start out "rocky" and continue throughout the whole process - you just stay on top of it through the end.
But again, there's no guarantee's that you'll get the home. If you're an all "cash" buyer, it may be best that you go for a "bank owned" or "standard" home so you can close quickly.
It would be best to check with the county you are located in to give you an estimate of the taxes. Each state and area property located in are different and maybe in a city or district which may levy additional taxes. Tax authority should give you the estimate and your realtor can best direct you to the proper entity.... more