When looking to purchase a short sale or foreclosure you should discuss the following with your agent:

1.  Multiple Contracts - When you are purchasing a home and put it ‘under contract' you should be the only buyer pursuing that property.  If the listing agent will be submitting your contract as one of many, to the lender or even worse signing multiple contracts you are in essence entering into a blind auction for real estate.  Unless you are an experienced investor, this is unlikely a situation you will be comfortable in.
2. Inspection Allowances - Regardless of what type of property you decide to purchase you need to make certain you have the right to have a professional fully review the property and report to you their findings.  This is critical. 
3. Submit a Strong Contract - treat a short sale or an REO like any other contract and put your absolute best offer forward.  If you truly want to purchase the property in question make your offer count. 

Hire and Educated and Highly Experienced Agent

A short sale or foreclosure purchase is not a typical real estate transaction. They can be difficult and come with their own specific challenges however the right agent can help guide you through this process and help you purchase the property you are looking for.

www.RealEstateWish.com * www.MichelleCanHelp.com