That is an option many buyers want to pursue. There are several important elements you must consider. You will NOT be able to do a proper assessment using information from an aggregate web site. You will need to consult with a professional and gather information regarding the following:
1. What is the number of active short sales in your area. (example 200)
2. What is the number of sold short sales per month that close (example 60)
3. 70% of short sales do not close as short sales. Are you willing to play on the team that loses 70% of the time?
4. You must have NO time or timing issues. (must sell existing home to close simultaneously on short sale)
5. Have no emotional attachment to the home (you lose 70% of the time)
6. Can walk away and suffer no lose
7. Have incredible patience.
8. Willing to be the least significant, frequently abused participate in the process.
9. You are not shopping at the top of your price point
10. There are no rules...just the illusion of such.
If you would like a overview of the short sale process, just send a request. It is important to understand the process from the seller perceptive AND from the buyer position. Your very best option is to contact a real estate professional who works in the River Edge area and make an appointment to review the list above, if you are a serious buyer.
No, don't click that 'contact' link.
No, don't use an email link.
If you are serious...you will CALL.
Best of success in finding your new home,
Annette Lawrence, Broker/Assiciate
Remax Realtec Group, Palm Harbor, FL