morgage or real estate girls .. ?

i know earlier ( a few months back) some girls were posting asking questions and others had answers or worked in the field .. . so i figured try he bc this will prob me my most honest opinion since no one is after my purchase on here ;)

ok so me and fh are going hard at this house hunt .. i have spoken to a few real estate agents .. and have gotten a few different stories..

short sales.. the good the bad and the ugly ? any advice explination or opinions GREATLY appreciated!!

Good - you can usually get a good price on them.
Bad - you put in your offer and it might be MONTHS before you hear back from the bank, the houses aren't as kept up as someone who is trying to market their home.

I think the waiting is the worst part.

Yeah .. I think the waiting part is the dumbest.. either the bank wants the house sold or not so stupid.. I understand they have a minimum but !!


Any other opinions advice ??

FH and I bought a house last November and we asked about the same things.

Short Sale- Price is less but can take months to find out whether your offer was accepted or not. If you have the inspector come in and he says it needs some work you can't ask the seller to lower the price or fix the problem.

Because the economy is so bad you might be able to find a good house and not have to go through the short sale. We got lucky with ours. I researched a lot of the house before hand on redfin.com and then met with my mom's friend who is a real estate agent. We wanted to be in by the holidays if possible so a short sale just wasn't going to work for us.

The house we found was well under the value because the owners had to move because the husband was being relocated. There was a minor problem when the inspector came and they had to fix it before the closing. They also didn't have a CO for some work that was done so they had to put money into escrow and are given a year to get the CO or we get the money. These are things you cannot work out when you do a short sale.

Sorry this came out long

no the longer the better explination!
yeh i would rather not do a short sale .. but some of the houses we saw ended up being .. we havent set our minds on anything yet .. but i wanted just to have some back info . .

Where are you looking for we have a great broker in the huntington area

My Mom is in real estate and a short sale is really not good at all ...u get the way the house is and some of them are messed up i would never go that way at all...and my friend for some crazy reason did that and she ended up almost closing on it and the last minutes she didnt get it ...if u need anything FM me