Ask Tara @Trulia provides insight, plus how to “Avoid the Drama” regarding Short Sales and REOs.

Roughly forty percent of the homes for sale on today’s market are short sales and foreclosures! Distressed properties are well known for their value (a reputation which is sometimes accurate, and sometimes not), but they also have a reputation for causing buyers to become distressed, too!

Transactional snafus, last-minute surprises and long, drawn-out escrows that never close seem to be par for the course.

Instead of avoiding these properties altogether, get educated about the most common dramas that go down in these deals, and how you can avoid falling victim to:

1. Run-on (and on, and on) escrows.
2. Bank won’t take lowball offer.
3. Last minute postponements/cancellations.
4. The bank’s black box.
5. Double standards.
Here’s the full information: