Short Sale Drama

We put an offer on a short sale home mid June - on our contract we gave the bank until July 31 to accept/counter/whatever - well tomorrow is July 31, the bank is taking forever and it looks like we will have to do some kind of extension paperwork if we are still interested in the house (otherwise we can just walk away from it at this point) the more time this whole process takes the better off we are (as far as saving for the wedding and downpayment) but i cant believe we still havent found anything out yet! this process is taking forever! so basically i am just venting! i know there were some girls on here that told me short sales could take FOREVER - they were not kidding!! please send good vibes our way! it seems like they are trying to get approval on our initial offer which would be SWEET but at this point who knows what will happen!

I wish you good luck but yes, they do take forever. The way the market is I would say walk away & bid on soemthing else....there are so many choices these days. You also don't know what you are walking into with a short sale.

Good Luck!!

Sending good vibes your way Nicole!!!

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Posted by Future Mulligan

We put an offer on a short sale home mid June - on our contract we gave the bank until July 31 to accept/counter/whatever - well tomorrow is July 31, the bank is taking forever and it looks like we will have to do some kind of extension paperwork if we are still interested in the house (otherwise we can just walk away from it at this point) the more time this whole process takes the better off we are (as far as saving for the wedding and downpayment) but i cant believe we still havent found anything out yet! this process is taking forever! so basically i am just venting! i know there were some girls on here that told me short sales could take FOREVER - they were not kidding!! please send good vibes our way! it seems like they are trying to get approval on our initial offer which would be SWEET but at this point who knows what will happen!

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this is why i say the market S*CKS now, they say its a buyers market but its more of a PITA from my perspective. Ive been going through this BS for MONTHS, and i mean even months before the wedding. For me its worse bc i have to sell one place and buy a new place. They took so much longer now to do anything, they use new methods and its just one big headache. I am getting so frustrated

Good luck

Ugh!!

This market just $ux!! I'm sorry you're dealing with this now.

What do you think you are going to do? Is it really worth the aggravation? I know you're getting a good price, but things are priced pretty low right now, you might get something comparable going the normal route!

Whatever you decide, GOOD LUCK!!!

Hang in there

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Posted by DeeluvsVinny

Ugh!!

This market just $ux!! I'm sorry you're dealing with this now.

What do you think you are going to do? Is it really worth the aggravation? I know you're getting a good price, but things are priced pretty low right now, you might get something comparable going the normal route!

Whatever you decide, GOOD LUCK!!!

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well our offer was 85% of the current FMV of the house - so basically the house is already at a low b/c of the market and we can get it for 15% less than that (if they accept) - the house is 3 years old, tons of upgrades, its gorgeous and its immaculate...once they accept the offer we still can get an inspection (but we have to pay for it) and if there is anything wrong we are not obligated to purchase the home, we can back out at that point.....i mean the price is amazing and so is the house....and waiting is good for us, i just wish i knew what we were waiting for