So, You Insist on Buying a Short Sale Home?

I constantly have clients who insist on buying a home under short sale status. Here's my advise to those buyers that have this strange penchant for aggravation. There are some great buys out there, provided you are a very patient person.

If you are the type person that has to honk your horn at the car in front of you the micro-second the light turns green, if you are the type person that constantly checks your watch to see only 15 seconds has passed since you last checked it, if you are the type of person that jumps on the phone because the repairman has yet to show and it's only 30 seconds past the due time, or if you are the type of person that would rather run over the squirrel in the road rather than wasting a split second by braking, then perhaps a short sale may not be what you are looking for. On the other hand, if you are the type of person that can sit for hours on end and simply stare off into space (alcohol stupor notwithstanding,) the type of person that can hold off eating this week because your local grocer is going to have a big sale next week, or the type of person that can actually watch paint dry, then perhaps you have what it takes to join the short sale market.

While it may be uncommon, most short sales are anything but short on time, and very long on aggravation and heartache. The purchase you may want to make, may have 3 or 4 offers already sitting on the assest manager's desk and they are simply waiting for... who knows what! Your offer can be rejected without you ever finding out about it, or finding out it was rejected 3 months ago, it may be rejected only to have a lesser offer ultimately accepted, your offer may be rejected if you are a cash buyer. Meanwhile, the other sweet home you were considering while your short sale offer was tendered, may be gone, and in most instances already settled before you finally get the call your offer was rejected.

So, if you insist on telling me you must have a short sale home and you are an impatient person, please don't blame me when things don't go your way and please don't blow your horn at me. On the other hand, if you want a short sale home, and you have nothing but time on your side, let's do it! Just keep in mind, you can blow your horn all you want, I can't make the light turn green.