Zillow Advice: Buying Process - Trying to buy a house under a short sale and morgan stanley holds the note - Any advice?

How long since your offer ...

Mon, 06 Jul 2009 01:37:00 GMT

How long since your offer was submitted? The general rule is 45 - 60 days for a reply when it's a good offer. Upon acceptance it takes no time at all to close. Are you offering cash/conv?

It is also EXTREMELY helpful ...

Mon, 06 Jul 2009 00:21:00 GMT

It is also EXTREMELY helpful to use a real estate attorney that does a lot of short sales. I have had attorneys be unable to deal with a short sale because they were unfamiliar with them. I have had sales expedited because the attorney I used was a short sale expert and had "plan B" up her sleeve when we were stymied by the lender.

Theo Shaw
Baird & Warner
Evanston, IL

Use a Buyers Agent that Specializes ...

Sun, 05 Jul 2009 21:22:00 GMT

Use a Buyers Agent that Specializes in Short Sales. A Specialist knows the correct questions to ask to make sure your transaction is not on the bottom of the assett managers stack.

Hold on a short sale is not ...

Sat, 27 Jun 2009 14:24:00 GMT

Hold on a short sale is not the average transaction that require time and patience. Lots of faxes,lots of phone calls,lost more faxes, lots more phone calls. It is almost a tennis game back and forth for months. Hold on and get ready to put your gloves on.

Short sales require a lot ...

Sat, 27 Jun 2009 14:12:00 GMT

Short sales require a lot of patience. They are much more complicated than a typical transaction and require a lot more paperwork and time. Your best bet is to have a good agent or closing attorney that can help you through the process.