Tools

Ask a Question
Start a Discussion
Close
Create an Email Alert

Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.

This alert is for the following:

Topic:
I am in contract to purchase a short sale. I put a ...

How often would you like the alert emailed?

Frequency:

Immediately Daily Weekly
Maximum 20 emails/day

Save

Cancel E-mail alerts
RSS
Send to del.icio.us
Send to StumbleUpon
Print page

Partner Tools

Views: 295
US
Texas
Nearby States
- Alabama
- Alaska
- American Samoa
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Guam
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Northern Mariana Islands
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virgin Islands
- Virginia
- Washington
- Washington D.C.
- West Virginia
- Wisconsin
- Wyoming
Don't see it?

Find:
San Antonio
Nearby Cities
- 145
- Adkins
- Alamo Farmsteads
- Alamo Heights
- Atascosa
- Balcones Heights
- Bexar
- Brooks AFB
- Castle Hills
- China Grove
- Converse
- Cross Mountain
- Elmendorf
- Fair Oaks Ranch
- Firm Cases
- Friendly Corner
- Grey Forest
- Helotes
- Hill Country Village
- Hollywood Park
- Kelly USA
- Kirby
- Lackland
- Lackland AFB
- Leon Valley
- Live Oak
- Lone Oak
- Losoya
- Lytle
- Macdona
- Mann Crossing
- Martinez
- Olmos Park
- Randolph AFB
- Saint Hedwig
- San Geronimo
- Sayers
- Scenic Oaks
- Selma
- Shavano Park
- Somerset
- Terrell Hills
- Thelma
- Timberwood Park
- Universal City
- Van Raub
- Verde, Canada
- Von Ormy
- Windcrest
Don't see it?

Find:
Neighborhood
Nearby Neighborhoods
Don't see it?

Find:

I am in contract to purchase a short sale. I put a deposit down 3/27/09, locked in @ 4.5% till 7/13

Contributions: 2

Q&A

:2

I am in contract to purchase a short sale. I put a deposit down 3/27/09, locked in @ 4.5% ending 7/13/09. Contract states I can CXl if not closed by 6/30. Seller has 2nd lien unresolved for $40M. What to do? Do not want to lose my 4.5% rate. Can I still find 2nd property as back up in time? Any advice?

Flag content

June 06 - San Antonio

RSS

Answers (3)

Terry McDowell, "T.J.1"
Contributions: 10

Terry McDowell, "T.J.1"

Real Estate Agent

View my 2 listings

Contributions: 10

Q&A

:2
Photos

:8

View full profile

Does your agent know this? You need to have a discussion about this and let them know you're not willing to wait around. You're the client and the one in charge.

Flag content

June 08

Travis Duncan, "TravisDuncan"
Contributions: 25

Travis Duncan, "TravisDuncan"

Contributions: 25

Q&A

:4
Photos

:21

Zillow All-Star

Since July 2009

View full profile

That's got to be $40k right? I don't think someone would be asking about a 40 million+ dollar short sale on here, or would they?

Flag content

June 06

jkonstant
Contributions: 1467

jkonstant

Real Estate Agent

View my 1 listings

Contributions: 1467

Q&A

:533
Disc

:922
Photos

:12

Zillow All-Star

Since May 2009

View full profile

A second for $40M? Your agent should have written the offer with language allowing you to terminate the contract without loss at anytime prior to full lender approval. This way you can contnue looking and walk away should something satisfactory become available. Many buyers simply lose patience and find that another property will do just fine. They simply find the original is not so appealing with the long wait. As long as the bank thinks they have months to act, they will make less effort to act quickly.

If you do not have this language in the contract, simply threatening to walk might push the agents and the seller into proactive action rather than pushing the bank daily for updates and action. Yes daily. Do not allow them to hide behind the "I don't want to be too pushy" BS or they will.

Flag content

June 06

Have a question? Ask it here.

Active San Antonio Real Estate Agents

Chris Gillespie

25 listings

Local Expert
Kimberly Howell

81 listings

Local Expert
Craig Blakeley

78 listings

Local Expert
Dayton Schrader

61 listings

Local Expert
Julie Stewart

58 listings

Local Expert

See more San Antonio real estate agents

Question paid earnest money to a builder. I changed my mind..what happens next?

Latest answer by Cindy LaPeer
9 hours ago

In Buying Process
15 Answers - 339 Views

Question Is there a tax credit for home owners who have lived in their home for at least 5 years?

Latest answer by Michael Emery
November 01

In Home Buying
1 Answer - 51 Views

Question how can I search for only homes with pools

Latest answer by adannenb
October 17

In Home Buying
2 Answers - 307 Views

Question home bid...??

Latest answer by Randy Pereira
September 29

In Home Buying
1 Answer - 129 Views

Question Apartment Lease

Latest answer by Randy Pereira
September 16

In Finding a buy-side agent
8 Answers - 298 Views

See More

Guide Real Estate Buyer's Closing Costs

In Buying Process
Edited August 27

Guide List of Closing Costs and Fees

In Buying Process
Edited August 27

Guide About First-Time Home Buyer Tax Credit

In Home Buying
Edited July 22

Guide You've Opened Escrow

In Buying Process
Edited July 21

Guide Picking the Best Comps

In Using Zillow to buy
Edited May 04

See more articles about Home Buying

Current Mortgage Rates

Current Last Week

30 Year Fixed

15 Year Fixed

5/1 ARM

Get this widget

<div style="width:298px;height:123px;border:1px solid #adcfff;overflow:hidden;text-align:center;font-family:verdana,arial,sans-serif;font-size:8pt;line-height:13x;background-color:#eff3ff;letter-spacing:0;text-transform:none;">
		<div style="margin: 0 6px;">
			<div style="margin-top:6px;">
				<a href="http://www.zillow.com/Mortgage_Rates/#{scid=mor-wid-lthd}" target="_blank" style="font-size:9pt;color:#36b;text-decoration:none;font-weight:bold;">
				   
						Current
				   
				         
				   Mortgage Rates</a>
			</div>   
			
			<div style="color:#555;margin:5px 0 1px;">
				<span style="padding-left:137px;">Current</span>
				<span style="padding-left:23px;">Last Week</span>
			</div>

<div style="background:#fff;height:60px;width:284px;border:1px solid #adcfff;text-align:left;">
				<div style="width:146px;float:left;">
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt1}" target="_blank" style="text-decoration:underline;color:#36b;">30 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#eff7ff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt2}" target="_blank" style="text-decoration:underline;color:#36b;">15 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/#{scid=mor-wid-ltt3}" target="_blank" style="text-decoration:underline;color:#36b;">5/1 ARM</a></div>
					</div>
				</div>
					
				<iframe title="Current Mortgage Rates" frameborder="0" height="60" scrolling="no" width="138" src="/mortgage/MortgageRateTableWidget.htm?wide=1&region=102001">
						Your browser doesn't support frames.  Visit 
					<a href="http://www.zillow.com/mortgage/" target="_blank" style="text-decoration:none; font-size:9pt; font-weight:bold;">Zillow Mortgage Marketplace</a> 
					to see this content.
				</iframe>
				<div style="clear:both;"></div>
			</div>
			
			<div style="margin:4px 6px 0;height:15px;width:276px;">
				<a href="http://www.zillow.com/mortgage/#{scid=mor-wid-ltgr}" target="_blank" title="Zillow Mortgage Marketplace" style="display:block;margin-left:4px;height:15px;width:145px;float:left;"><img src="/static/images/zillow-mortgage-logo-small.gif" alt="Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage Marketplace" style="border:none;"/></a>
				   
				<a href="http://www.zillow.com/webtools/widgets/MortgageRateWidget.htm#{scid=mor-wid-ltget}" target="_blank" style="font-size:7pt;color:gray;text-decoration:none;float:right;margin:1px 5px 0 0;width:80px;">Get this widget</a>
			</div>
		</div>
	</div>

Need a Mortgage?

Zillow Mortgage Marketplace

Competitive rates
Accurate, custom quotes
Thousands of lenders

... and, it's free and anonymous

Learn about Zillow Mortgage Marketplace

Zillow Poll:

Suggested by xitstrgty

How large of a lot do you own?

Less than 0.25 acre

0.25 to 1.0 acre

more than 1.0 acre

What are these "acres" that you keep referring to?

Next poll
Suggest a poll

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

Nearby States

Nearby Cities

Nearby Neighborhoods

I am in contract to purchase a short sale. I put a deposit down 3/27/09, locked in @ 4.5% till 7/13

Contributions: 2

Main Image

Answers (3)

Real Estate Agent

Contributions: 10

Contributions: 25

Zillow All-Star

Real Estate Agent

Contributions: 1467

Zillow All-Star

Have a question? Ask it here.

Active San Antonio Real Estate Agents

Related Questions

Question paid earnest money to a builder. I changed my mind..what happens next?

Question Is there a tax credit for home owners who have lived in their home for at least 5 years?

Question how can I search for only homes with pools

Question home bid...??

Question Apartment Lease

Related Articles about Home Buying

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide About First-Time Home Buyer Tax Credit

Guide You've Opened Escrow

Guide Picking the Best Comps

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor