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Why would a realtor not tell the buyer that a short sale price had been accepted by the bank?

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We found out it was accepted in a round about way from someone we know in the bank. When we called our Realtor (who is also the sellers realtor) we were told YES the offer was accepted but they can't get ahold of the seller to sign off on this. This is a week later?? I asked for all the offers, counters to be sent to us. On the top of the accepted offer is the NEW address of the sellers. I emailed our Realtor that I am going to drive to their house and ask if they will sign off myself after being told they cant get ahold of them and they do not know where they live now. The Realtor is now going over himself today? Why is this so fishy?

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June 19 - US

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jkonstant
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jkonstant

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I doubt the agent is holding out for a better offer when a certain paycheck is within reach. A $5K hike in sale price won't net them enough to risk it. It is quite possible that Countrywde's terms with the seller are not sitting wll with them at this time and that might be the cause of the delay. The seller's may be bitter and feel that Countrywide who sold them on the bad loan is now trying to take further advantage of them.Emotions may be out of whack right now and the agent may innocently be working behind the scenes trying to get it done. In this case the agent cannot legally tell you some things. You may go to the seller directly but be prepared to hear another side of things.

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June 20

aapostrophe
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the more they stall before signing documents, the more time that another, higher offer could potentially come in.

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June 19

jennybug35
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I'm sure that is what is going on.. the price is very low for this house and neighborhood and it does have several offers.

But, the short sale is with countrywide and it takes 3 or more months with each offer. They have to start over from scratch with each offer... maybe things have changed over the past month.

We had it escalated because we knew someone at CW. I went directly to the listing agent for this offer to insure we had a better chance of getting this home. That way they get both sides of the commission but I am wondering if they have another buyer willing to pay more.

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June 19

sunnyview
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I don't know, but I am with you. If I needed to, I would bring a bunch of grocery store flowers, drive over to the new address and get the owner to sign off myself if that's what it took to get it done and moving.

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June 19

nvchaz
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Maybe stalling you hoping for a higher offer from someone else?

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June 19

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Why would a realtor not tell the buyer that a short sale price had been accepted by the bank?

Contributions: 5

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Answers (5)

Real Estate Agent

Contributions: 1498

Zillow All-Star

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Zillow All-Star

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Related Questions

Question If my offer is $50 higher and I have a cash sale, legally does my offer stand?

Question Can I assume someone elses mortgage?

Question Buying my first home: Do I need to hire a lawyer to be present at the time of closing?

Question I'm a first time home-buyer and I need to know a property value.

Question If this house becomes availible for sale I would like to bid on it. This was my 1sthome.

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

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