Must-knows for short-sale buyers

REThink Real Estate

By Inman News Feed
Add Comment Add Comment | Comments: 0 | Posted Mar. 17, 2011

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If you do, you do so at your own risk -- the risk of losing the cash you've spent if the bank does not approve your offer for any reason.

The seller -- to answer your second question, Mike -- does not owe you any compensation for breach of contract, unless you were already notified that the bank had already approved your offer.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.

                                                   
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