I did when I was a real estate agent. Short sales can be diamonds in the rough or a complete disaster.
First thing to remember is a short sale is sold as is. Now that doesn't mean the property is in ruins, but buyer beware. Shorts sales are the last attempt to sell the property before foreclosure so it's in the best interest for both the bank and the home owners to sell it.
One of the things you will want to ask is if you are responsible for any of late payments from the current owners (and/or interest) or back taxes on the property if you were purchasing the home. You NEED to get a reputable home inspector, possibly someone who specializes in foreclosures/SS (I am sure they are out there).
Make sure you already have your finances in order and you are pre-qualified for up to $XXX,XXX because there isn't much time between short sale and foreclosure. The bank will want you to close ASAP and if the property is something you feel is a good deal then you don't want to miss your opportunity to buy it because you failed to see if the bank will even give you a loan. I know people that put your typical 10-20% down to purchase a SS, others more....that will depend on your credit score. Good luck with your search and hopefully you find a great deal.
