House Hunters Part IV

This weekend we put in an offer on a house (see picture).  Crazy, right??! The house is a short sale and was posted for more than our budget, so we put in an offer that was within our budget and submitted it to the sellers and their agent. They verbally accepted (should get written confirmation in a few days). Once we and the sellers come to an agreement on everything, it will be submitted to the seller's bank. That is where we anticipate most of the problems will occur. Will the bank accept an offer below market value? Will they make the seller pay the difference? If that is the case, than the sellers already said they won't accept our offer. Will the bank take 8 months to make a decision and we end up not getting the house because it goes to auction? Short sales are a tenuous and pain-staking process only to be ventured into by the strong-willed and patient individual. Time will tell if we are up to the task.

Year Built: 1994
Square Footage: 2648
Levels: 3
Acres: 0.42
Bedrooms: 3 with an extra bonus room
Bathrooms: 2.5
Other Amenities: 2 fireplaces, 3 decks and air conditioning

P.S. We found a new realtor (can't you tell?) and are really enjoying the process now that we are working with a very professional and understanding husband-wife-daughter team. Now, how to tell the former realtor that she is "former"...