Buying a house that is on short sale?


My family was house hunting and we saw this house that we would like to buy becuase it was such a deal. But the thing is, it’s a home that is a short sale. From my understanding the bank hasn’t even approve the selling price. Is buying a short sale even worth my time?

The home as a mortgage balance of 550,000 and the listed price is 350,000 subject to lender to approve.

What’s the real deal with these short sales?

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