Buying a short sale thats listed on MLS direct from bank

[Jade456]

Start out with something that needs cosmetic work only, like new paint, fix some holes in the walls, etc.

[russellmurray]

how much do i need to put down, how do short sales work,

Short sale will occur when the loans against a property are greater than what the property can be sold for. Sometimes, this is the only way for homeowners to avoid foreclosure on their homes and still be able to pay off their loan by settling with lender.

[kenl314]

Hello, I agree.  A $50k rehab is a lot, first off- and can also quickly unravel to a $70k rehab.  I've been in construction for a long time, and even I have goofed on a few rehab estimates.
Good luck,
Ken

[DaveVelasco]

But in some cases, a 50k rehab pays a lot better in the future or in some other instances.. Well it depends on how people would weigh such situation then.