Zillow Advice: Buying Process - I put in an all cash contract in on a short sale & I have not gotten a response back from the seller http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ Zillow Advice | Zillow Real Estate Since the sellers are attempting ... http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ <p>Since the sellers are attempting a short sale,&nbsp;they are&nbsp;having financial difficulties...which means they will have to deal with any payoff shortage between the selling price and the&nbsp;balance on their mortgage.&nbsp;Often times with short sales, there is little to no&nbsp;negotiating room from their asking price so even though&nbsp;you were coming to the table with cash, a 35k gap was not acceptable with the sellers bank. &nbsp;</p> Wed, 11 Sep 2013 17:52:00 GMT http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 2013-09-11T17:52:00Z There were no contingencies, ... http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 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. Wed, 11 Sep 2013 16:25:00 GMT http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 2013-09-11T16:25:00Z Short Sales can be very frustrating. ... http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ Short Sales can be very frustrating. It's my formal policy to never get involved in one again.... Tue, 10 Sep 2013 20:44:00 GMT http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 2013-09-10T20:44:00Z Did the agent confirm that ... http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 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. Tue, 10 Sep 2013 20:38:00 GMT http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 2013-09-10T20:38:00Z Let me guess, it was a really ... http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 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. Tue, 10 Sep 2013 20:28:00 GMT http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 2013-09-10T20:28:00Z Welcome to the joys of short ... http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ Welcome to the joys of short sales.&nbsp;&nbsp;&nbsp; When did you put in the offer?&nbsp; Was it at asking price?&nbsp; Had the sellers already received feedback from their lender?&nbsp; Were their contingencies?<br/><br/> Tue, 10 Sep 2013 20:24:00 GMT http://www.zillow.com/advice-thread/I-put-in-an-all-cash-contract-in-on-a-short-sale-I-have-not-gotten-a-response-back-from-the-seller/510777/ 2013-09-10T20:24:00Z