Here’s a quick reference cheat-sheet that will help you determine easily (depending on product: FHA, VA, Rural or Conventional) what the waiting periods are.
The answers will give you a better understanding of what to expect if you do decide to submit an offer. This can mean the difference between a quick close, months of waiting, and/or just not closing at all because the seller’s bank will not approve the short sale.
Buyer Q&A: What is different about buying a HUD Property? Some of the best deals I’ve seen on the NW Side of San Antonio (this year anyway), have actually been HUD Owned Properties!
Buyer Q&A: My agent is getting a bonus from the Seller… should I be concerned?
On the other hand, some agents are more than willing to share any bonus incentive with their buyer clients. Regardless of commission your agent should always be looking out for your best interest. If you don’t feel they are, then it should be addressed immediately.