I'm glad that you are working with a buyer agent if you are interested in short sales. It could be a lengthy transaction. Banks and sellers do want to unload these homes, but they are not foreclosures, so do not get the two confused. On a short sale, the seller still owns the home until the bank approves a sale of less than what they owe-once your offer is submitted, the bank will send out a BPO (brokers price opinion) to determine if your offer is close to current market value-if you are low-balling and the home has not been on the market for long period of time, it is most likely that they will not accept your offer, but they may counter-and guess what, you start from square one again. Not only do you have to show the bank that you are well qualified to purchase the home, but the seller needs to show a hardship of why they cannot keep it. This can take some time for the bank to consider. The listing agent may already have the home listed for below market value-it still needs approval. Have your agent do a market analysis for you, and discuss the process further. If you still decide to go that route, I wish you the best of luck. There have been a few occasions where these deals went quickly and smoothly-depends how far in the procedure the seller has gone. I hope yours is one of them!