Buying a short sale - Zillow Real Estate Advice

A couple of things to consider, it is ultimately up to the investor (banks) what price is going to be taken, but they also look at things like how are you paying. ?Cash is king in a situation like this, I have seen lower cash offer get accepted, and in this case with previous damage that could be the case because getting a loan approved could be a bit more difficult, depending on the current condition of the home.?

They will also consider what conditions and contingencies your willing to for go, such as buying as is, versus having an inspection and asking for repairs.

My advise would be to go in with the max you are willing to pay, or be prepared to get into a multiple counter offer situation, when they come back. ?If that is what takes place, they will ask all offerers to submit their highest and best, why not do that in the first place if you are sincerely wanting the home?

The last thing that they may take a look at is what closing costs you are willing to take on versus asking them to pay. ?

Source: http://www.zillow.com/advice-thread/Buying-a-short-sale/471146/

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