We caution our clients buying short sales to not get emotionally involved. Even with an accepted offer, the odds of closing escrow/owning the home are not good.I would agree with Angela that higher earnest money is reputed to be an important consideration by many lenders. The ideas is that you, the buyer, may have some extra cash that may be needed to make the deal happen.One must understand that the bank is trying to minimize loses and often turns to the homeowner and buyer for some cash contributions. This is often the case with past due HOA dues, property taxes, mechanics liens, title insurance and lender mandated repairs.If you were to open a fortune cookie about Short Sales it would likely read... I see a great need for patience in your life.
How to get my short-sale offer accepted?
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