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- Staresce
- Contributions:967
They may decline it... but if you want to offer $160, 000 if they say no you can come back with $165,000 how much do you really like the house ? Are you prepared to walk?
Lisa
If the bank has already set a price for what they are willing to accept and it's not low enough for you, wait until it forecloses and then put in an offer.
- ncollazo
- Contributions:11
How long does it take before a short sale becomes a forcloses?
It depends on what state you are in and how late the homeowner's are.
- ncollazo
- Contributions:11
Thank you.
- ncollazo
- Contributions:11
Thank you.
you're welcome.
- ncollazo
- Contributions:11
Have you ever worked with American Service Company?
No, I haven't.
- 2 Big 2 Fail
- Contributions:0
If the house goes into foreclosure, there is a good chance it might not be in as good condition. Appliances and copper pipes in foreclosures often grow a pair of legs an walk out the front door, if you get my drift. Also, not all short sales end up in foreclosure.
- caldersky
- Contributions:55
We just heard that the lender approved our short sale, our original offer went in Sept 11th!!! We love the house but after nearly 5 months of waiting we're not feeling the WOO-HOO! The house has been empty all this time and we have gone in and ckd on it a few times so we know it's condition but it's not the deal that it was 5 months ago. While it's still a reasonable price for the house I find myself feeling a little like a deer caught in the headlights!
- Real Estate, "Long Island"
- Contributions:970
Before you commit in writing to any offer on real property, short sale or not, hire an expert real estate attorney specializing in your real estate endeavor. What ever liens are on that property, they become yours when title transfers. Nobody but the bank can answer your question; do your research before you make an offer in writing w/ documentation to your finance. Don't be afraid to make an offer to a bank. I guarantee there are just as good deals if not better out their that will satisfy your needs and wants. Real estate acquisition is an investment before you turn it into a home and enjoy it's use.
Seriously, you really need to stop giving advice. A bank cannot give out someone else's information unless there is written authorization. Liens do not become the buyer's because they have to be cleared to transfer title.
- LongIslandBubble
- Contributions:2793
Why not wait until the bank is begging you to take it from them?
- Real Estate, "Long Island"
- Contributions:970
Tell that to New York buyers that have made bids at a bank auction, submitted a cash deposit note with the offer, later discovered liens, withdrew their offer, and lost their deposit.
- Real Estate, "Long Island"
- Contributions:970
buy
- Real Estate, "Long Island"
- Contributions:970
In
- Real Estate, "Long Island"
- Contributions:970
new
- Real Estate, "Long Island"
- Contributions:970
missubmission error.
And furthermore, even if you buy at a bank auction, liens still have to be cleared before title transfers. I don't know any lender that will lend subject to former liens.
- Real Estate, "Long Island"
- Contributions:970
it can be. then it will be a real short sale.
- Real Estate, "Long Island"
- Contributions:970
tired of your profanity!
tired of you uneducated advice and sentence fragments!
You can add it to your federal lawsuit against me. I'm tired of your misinformation.
I'm confused. I didn't see any profanity. Did I miss something or is my eyesight just not what it used to be?
- Real Estate, "Long Island"
- Contributions:970
Every lender will lend to the property with pending liens so long as the buyer deposits balance of liens in escrow until leans are satisfied. These deals are being made in America as we speak. How do you think I bought my house.
I'll speak slowly. Liens have to be paid before title transfers. What do you think putting money in escrow until liens are satisfied means.
Buying Short Sale
I am a first time homebuyer. I am planning to make an offer on a house that is being listed as a short sale. The sale price of the home is $179,900. The house has been on the market for 145 days. The listing agent stated that the bank is willing to accept $171,000. I am thinking of offer $165,000, but would really like to offer $160,000. Does anyone think that the bank will decline my offer?
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