This document provides tips for buyers of short sale and foreclosure (REO) properties. It discusses 5 common complaints buyers have with these types of distressed property transactions: 1) Escrows taking much longer than normal sales, sometimes months longer for short sales, 2) Banks not accepting very low offers and wanting closer to fair market value, 3) Last minute delays or cancellations of deals close to closing, 4) A lack of transparency from banks on the status of offers, and 5) Banks having different timelines than buyers despite long delays on the bank's part. It provides advice on how to avoid problems with each issue, such as managing expectations for long escrows, making reasonable offers, having backup housing plans, continuing