[youngblud]

But theyre all freaking short sales, none pre approved by the lenders (or so i've been told). I'm not picky, theyre all new, beautiful and exactly the same. Perfect for our young family.

Should I take a shotgun approach and make higher offers on 4 or 5 at a time? I can't stomach waiting 6 months 1 offer at a time, only to be denied.

I wanted a place in 1 or 2 months.

Why can't this be easier. Any advice on approaches? TIA!

[youngblud]

From more reading... I gather I should make offers 10% over asking on every short sale I like, some initial money, then full earnest money.

Then just nab the one that bites. Hoping I get my other deposits back. Just sounds messy.

[AD1985]

Hi, what's the rationale for offering more than the asking price?

[youngblud]

I keep reading lots of short sales are priced low to get offers. So don't go above asking price? I just want to get any 1 of therse houses fast.

[WestieJeff]

Bottom line is that if you want a house in 1 or 2 months then you are not a candidate to buy a short sale.

Offering cash and over list isn't going to speed up lender approval.

I would search on the recorders site for each parcel number and find out if any of them don't have seconds and make offers on all of them that don't have seconds (you count the number of trust deeds on the recorders site minus the number of re-conveyances to determine the number of loans on the property). You can have multiple short sale offers out and when you get lender approval you could cancel the other offers.

If there are multiple properties available then I don't see any reason to offer over list to being with. You just need to get the seller to accept the offer and get it submitted to the bank. Regardless of the price the seller accepts, the bank is going to get two BPOs and they will determine the minimum price they will accept, which may be different than your offer price.

I've seen short sales with one lender close in three or four months. I heard loans serviced by Wells Fargo (the sellers loan) are about the easiest to close a short sale and Bank of America loans are one of the hardest.

Good luck, it is a PITA trying to buy a house in this market!

[007 license to sell]

Anyone wanting to get into a home in 1 to two months is playing Russian roulette when looking at a short sale. The closing ration of short sales in 1 or two months is still very low,if you were to talk to most of the title companies in town they will tell you short sales are still not closing at all in a timely matter or at all.
You should stick to either an REO or a regular sale or new if you want something in 1 to two months. It is not mandated a bank has to respond in a timely manner on a ss it is strictly up to the bank if they choose to or not. There is no consequence if a bank doesn't respond and until there is banks will do what the want.

[vegaslocal55]

"D" on your list is a foreclosure, right? Go with that.

[airics]

at those prices, you are in investor territory .. you are going to have a hard time anyway.. i am presuming you are paying cash also..if not, i think you have a 1 in 50 shot on anything in that range.

[olecapt]

But one of them is a REO...the other a short.

All the rest are contingent.

Get an agent. You cannot play the game in that price range without one.

There are other suitable tracts around there as well.

[yellowsnow]

Trying to buy REO's/shorts on a tight timeline just doesn't work even if you have cash. Period.

You can trust me on this one, I know.