Quote:
Originally Posted by StephM
Anyone I know who has dealt with a short sale had a nightmare of an experience. I wouldn't deal with it personally.
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Couldn't agree more. Anyone that I know that has dealt with a short sale has regretted it. I would steer clear of it. The banks will easily $crew you if they get a better offer and will take forever to close. Another thing you need to worry about is if people are living in the house while its in the short sale stage.
Recently my buddy made an offer on a house that was a short sale but had people living in it. He made an offer with the bank which they accepted. But after a few months of nothing happening on the house he went to check on the house and noticed that the old tenants completely destroyed the house. Like a bunch of wild animals they tore apart the kitchen, the walls, broke windows, broke appliances, stole copper piping, etc. The house was unlivable and needed to be completely gutted. He luckily got his deposit back but learned a big lesson. Don't mess with short sales. You are taking a BIG risk. Good luck.
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