Replies

And we have friends who wanted to look at a short sale on the market and their realtor friend told them NOT to even bother, that it would take way too long to buy any short sale in this housing market.

The problem in this market is that (in many areas) unless you want to buy a new house or a bank owned property, you will end up bidding on a short sale. We are 3 1/2 months into ours and it is frustrating but I think we are finally going to get the house we want at a reasonble (not basement bargain) price. Of course we had the time and we never stopped looking.

I understand that it is illegal for her parents to buy the house via a short sale; however, is it LEGAL for her parents to bid if the property goes up for auction in February?

What I have read online is that it is simply mandatory to get an experienced reo-saavy realtor to handle ANY type of foreclosed property, including the submission of bids for bank owned or REO properties.

Is this correct???

Thanks!! :)