On a short sale, the seller still owns the property, but any offers they accept are subject to third party approval (the Bank.) The seller cannot sell the property if the bank does not release the lien on the property.If property was owned by the Bank, The you would have a contract with the Bank and then they would have to honor the price you agreed on.We are starting to see more pre approved short sales. It is a big help but even they are not perfect. Best of luck with your purchase of your new home.
Congratulations on considering real estate for your career. I have been an agent for over 21 years and I still love the business!! I am amazed after all my time in the business, I am still learning new things and realizing there is more income to be made in many different sectors.Real estate agents are typically paid straight commission and have a very high level of expenses. Some typical expenses are TAXES, annual license renewal, annual national and local association of Realtors dues, annual mls dues to access the multiple listings service, monthly lockbox key rental, for sale signs, lockboxes, business cards, any mailings and advertising, website development, car expenses, gas and expenses of entertaining clients (lunch, dinner, snacks on the road.) Keeping those things in mind, along with the thought that most agents work for 6 months before they see their first commission check, the best place to start may be as someone's assistant. You will learn the business and their systems and still get paid. Your job will primarily consist of making appointments, printing fliers, taking pictures of new listings, entering new listings in the computer, preparing paperwork for offers and new listings. Another thought is to start out as a buyers agent, an appraiser or a loan officer. I took a break in 2005 and worked in the mortgage business. I still think it was one of the smartest things I ever did. I gained more knowledge about the other side of the business and had a new level of confidence that helped me to propel to a new level when I reentered real estate. There are pros and cons of becoming a real estate agent, but I think one of the coolest things is when you help someone find their dream home, you will always be a special part of their life!!