How bad it really is to buy on the short sale??? (property, banks) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

tanyaru · 05-12-2009, 08:32 AM

Well, I kinda have a timeframe. I need to move out of my place by july 6. If I would make an offer for a short sale condo how long do you think it would take???? My agent tells me it might take too long but it could save me good money... so I'm debating now... What do You think???

PS I'm doing VA fixed

chet everett · 05-12-2009, 09:02 AM

I think your agent is correct. It is probably work a shot, but realistically you need a back-up plan, whether that is a month-to-month lease, a property that is more likely to close in >60 days or something else you don't want to have to move twice...

Norsky1 · 05-12-2009, 10:07 AM

X2 I think you would need more time as the banks take forever then you would still need to close. Good luck in whatever you decide to do.

Elke Mariotti · 05-12-2009, 08:15 PM

That's less than 2 months - nothing is impossible, but this is highly unlikely - I would definitely not count on it! As was suggested, come up with a back-up plan.

aneftp · 05-13-2009, 05:50 AM

Quote:

Originally Posted by tanyaru

Well, I kinda have a timeframe. I need to move out of my place by july 6. If I would make an offer for a short sale condo how long do you think it would take???? My agent tells me it might take too long but it could save me good money... so I'm debating now... What do You think???

PS I'm doing VA fixed

Why do you have such a short time frame. Is your lease ending that soon? Are you moving to a new area in that time frame.

I would try to put an offer in but you better have backup (maybe temp housing plans).