I am interested in buying short sale Properties...

[Zainab Ariyibi]

but would like some soundful advice on how to do so. Also, what is the maximum amount a bank is willing to accept on a home, for pennies on the dollar. For example, if I am interested in buying a home priced at $180K, but would like to place an offer between $97K-$130K paying with cash, would the banks choose my offer first, over someone looking to use conventional financing?

Also, what are the pitfalls to avoid when buying a short sale through the banks or a motivated seller?

Any other advice is greatly appreciated.

Thanks,
Z