If you are buying a home, we suggest you hire a professional to walk you through the maze, and I am not talking about maze and blue. I am talking about the patience needed to survive through the curve balls that the bank throws at you. Hire a REALTOR® who understands foreclosures and short sales. Does your agent have the experience to walk you into the end zone or closing? How do you know? Ask your accredited buyer representative how many “short sales” have you sold? Ask for testimonials. One of the things your agent can do is to ask for a copy of the approval letter from the Sellers lenders to ensure that the estimated HUD is complying with bank requirements. The loss mitigators are very specific in their requirements. Are closing costs allowed? Are other buyer incentives like tax pro ration waivers allowed? Is it a Fannie Mae or Freddie Mac loan? Ask the listing agent when the complete package was submitted to the lender. Ask for a weekly email status update so you can report back to your buyers. If it has gone to sheriff’s sale, ask to see a copy of the deed. If it is a vacant home, ask your insurance company to give you a clue report to help with seller’s disclosure. The negotiators for the banks are burdened with stacks of files. Piles of “short sales” sit on their desks. If the submitted package is incomplete, your offer may get put at the bottom of the pile. We have closed about 34 short sales. We provide you with Ann Arbor Area listed “short sales.” Every week we provide an email update of short sales and foreclosed homes so you can be updated about this market segment, or check out the site at your leisure. We will be sure to get you a touchdown – ‘er’ I mean a successful closing. Search all listings in Michigan with pictures and tours...Free! Kathy Toth & Team: Ann Arbor Area Real Estate Experts www.KathyToth.com Keller Williams Realty