Buying a short sale property is becoming more rational. A year ago, when short sales were starting to become common, the Lenders did not have any clear set of rules and procedures for handling short sales. As a result, everything about an offer to purchase a short sale was unpredictable. Now, things are getting better. Most importantly, if an offer has been submitted on a short sale to the lender the seller’s Realtor must list the property as pending. Further, only one offer may be submitted at any one time and that offer must have been accepted and signed by the seller. A new offer cannot be submitted to the lender until the originally submitted offer has been rejected or countered by the lender. It still may take as long as 45 days to get an answer but, as the buyer, you do not have to make an escrow deposit, conduct inspections or order a survey until the lender has accepted the offer. If you would like more information about buying a short sale property please write to email@example.com or call 813.996.2441. We are short sale specialists, visit our website.