The MOST important tip for buyers is Be Patient!!!

1. The short sale timeline can be anywhere from 2 months to 1 year.  Time periods are getting shorter and are typically 90 days for the negotiation, however it takes emotional strength to wait for the whole process.

2. The bank(s) holding the mortgages makes the final determination of price, and almost never negotiate with the buyer.

3. Continue to search for a home during the short sale process so that in case the negotiation is not successful you have not wasted your time for nothing.

4. Write realistic offers that are at most 5% less than market value.  Banks almost never go below this mark.  Why waste time and effort when it is almost impossible to get the home.  There are a few exceptions to this rule. Ask Versa what these are?

5. Find an agent who understands the process and how to best protect you and your interests during this process.