I put in an all cash contract in on a short sale & I have not gotten a response back from the seller

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 10 2013 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (6)

Since the sellers are attempting a short sale, they are having financial difficulties...which means they will have to deal with any payoff shortage between the selling price and the balance on their mortgage. Often times with short sales, there is little to no negotiating room from their asking price so even though you were coming to the table with cash, a 35k gap was not acceptable with the sellers bank.  

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 11 2013
There were no contingencies, all cash could close ASAP and to top it off I was able to petition the property appraiser and get the property assessment lowered by $300K which will save the Seller around $4K on his 2013 property taxes. The contract was sent over via scan email to his attorney. They did not get another offer in till after my contract acceptance date had passed and they still did not respond till just now and their selling agent gave me a verbal rejection. We were just $35K off the asking price on an as is sale.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 11 2013
Short Sales can be very frustrating. It's my formal policy to never get involved in one again....
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 10 2013
Did the agent confirm that he/she received it? If not, it's time to pick up the phone and call.... and call and email and call again, etc. until you get an answer. A Realtor has a duty to all parties involved which would include acknowledging your offer.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 10 2013
Let me guess, it was a really low offer. You can usually hear back from the seller in a short period because they will accept almost any offer since they are not going to make a dime on the sale, if it occurs. The only reason you would not hear back quickly is if it is insultingly low and because many people think cash is so wonderful they can offer much less with a cash offer. That is really not true, but many do believe it. If you think it is a long wait to hear back from a seller, wait until you wait months to hear back from the bank when you put in a low cash offer.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 10 2013
Profile picture for wetdawgs
Welcome to the joys of short sales.    When did you put in the offer?  Was it at asking price?  Had the sellers already received feedback from their lender?  Were their contingencies?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 10 2013
 
Related Questions
Should I add a jetted tub/jacuzzi while building the house?
Profile picture for Vince Curtis
Latest answer by Vince Curtis
31 minutes ago | 15 answers
California - AS-IS - Pest inspection - issues found
Profile picture for wetdawgs
Latest answer by wetdawgs
39 minutes ago | 6 answers
Do we have grounds to get out of the purchase of this property?
Profile picture for Mack McCoy
Latest answer by Mack McCoy
1 hour 54 minutes ago | 6 answers
Is it possible to get a primary residence with no money out of pocket?
Profile picture for Stephanie Tourtellotte
Latest answer by Stephanie Tourtellotte
2 hours ago | 11 answers
First Time Buyer Assistance
Profile picture for Robin Cavallaro
Latest answer by Robin Cavallaro
2 hours ago | 5 answers
Mortgage Rates
 
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.

 
 
 
Sign in with Google