Thomas Myers's Q&A

Contact me I will walk you through the whole process of purchasing a home. [content removed by moderator for being self promotional]

wrong state

Call me I will walk you through this process.  It is easier to answer your questions over the phone then typing back and forth.Sincerely,Tom[content removed by moderator for being self promotional]*Note - If you are working with an agent disregard this offer.

Contact me I will walk you through this process.  It is easier to answer your questions over the phone then typing back and forth.Sincerely,Tom[content removed by moderator for being self promotional]*Note - If you are working with an agent disregard this offer.

How many days?  Are you working with a real estate agent?  If you are working with an agent I would talk to them about this situation since they will better be able to assist since he/she has the agreement of sale.  You have sometime to get out if your agent takes the proper steps.  To protect yourself to the fullest get in touch with a lawyer and have the agreement of sale on hand.You can always find more information at Philadelphia Real Estate Blog

A short sale is when a home owner is in some sort of financial hardship.  The home owner is trying to avoid foreclosure on their property by asking their lender to allow them to sell their home to try to save some of their credit and interest in the property.  With that being said the lender must agree to allow the owner to sell the property but the owner has no say in how much the property will sell for.  Then lender must approve all offers and this can be a timely process.   Also when looking at short sales you are expected to have the property inspected before you make your offer.  This can also be a costly process because you will need to pay for the water, electric turned on, and if its oil heat you will need to have the tanks filled. If the property does not meet your expectations then you would have blow some money on a home inspection.  The lender will not allow owner or will lender spring for a cost to sell the home.  That being said if the home does need work you will need to pay for that since the bank will not pay and they will not allow the owner to pay either.  Short sales are good if you have money to make repairs and your a handy person.  If you have any other questions feel free to contact me or check out my blog a have several topics pertaining to this.Philadelphia Real Estate Blog 

My suggestion would be to contact your local real estate professional.  They should be able to obtain all the information you need.