Questions about buying a Short Sale

We looked at a house that is approved short sale.

The house is in move in condition- MAYBE just needs paint/carpet (if that).

The area is prime. The asking price is reasonable (for the house and area).

Our REA asked the seller's REA why it hasn't sold yet. Our REA said there is a lien on the house.

(1) Is there any way to get more information ont he house?

(2) Who pays the lien?

(3) Can we offer less than the asking price?

Re: Questions about buying a Short Sale

We're looking at a short sale too. Our REA, who is also the listing agent said we can offer less than the asking price and could possibly be approved.

I'm new to all of this, but with all my research I've done, my understanding is that it's not really approved until you hear back from the bank about YOUR offer. It may have been approved by another buyer's offer at that price. I could be wrong though, but thats what I've been told.

I'm not sure about the lien and what that means.