How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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I'm 0-2 on short sales. And 0-3 on regular sales. As a buyer, I see NO difference between the two. I write a check each time, but if the seller doesn't accept the offer, I'm not out a single...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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First you say that you "lose your money". Now you back pedal and say that you "won't always get your money back right away" or that "you may have to go to court".
I do not believe that people...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Down payment is not "Earnest Money Deposits"
Down payment is the amount you pay up front and you pay the rest month by month, just like an auto sale.
Earnest Money Deposits is the amount you pay to...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Yes, the bank can refuse to reduce the amount of indebtedness and thereby prevent the sale from closing since the seller lacks the funds to settle the mortgage and the proceeds of sale are by...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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An agent I was talking to said that I would have to put money down when I make the offer, and if the bank does not accept the offer, then I would lose my money.
Did you hear that as a reason to...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Shot in the dark:
Can anyone recommend a realtor with short sale experience in the Tampa area? Also, would it help to wait for financing and finance through the bank that would be approving the...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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I think that for a chance to buy a house for half of the going price, some people may put a bunch of offers in and the lost deposit is negligible compared to the savings.
The way she put it would...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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There is a lot of misinformation in this thread thats for sure.
BlueovalstangGT: you can offer whatever you want for that short sale. In a short sale situation, the bank only cares about the net...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Get an Agent to show you listing of all the shorts/ and comps. Have them also list all the recently sold shorts in that area to get you an idea of what you should be paying sq ft wise.
...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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short sales isonly 10 discount forclosure 34 percent discount
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Not sure where you are coming from here.
I'm questioning the assertion that buyers lose their earnest money deposit if the seller rejects their offer.
Why you would think that I don't...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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I figure if I found the place already I could save the 3% commission? Will keep looking in to it. I was looking at comps and it looks too good to be true.
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Do you honestly believe that buyers would sign contracts which allow the seller to keep their earnest money if the seller rejects the offer?
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Strange thing is you'd think short sales/foreclosures would be an easy deal because to the bank it's just an asset, but for some reason they drag their feet and are tough to deal with.
When we...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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I just completed a short sale, took 4.5 months from offer to move-in. Got a great deal, but you need to be patient.
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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I bought a house on a short sale a year and a half ago. It took 10 months from offer to closing. What held up the process was that neither real estate agent knew short sales well and barely did any...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Sorry HarryWombat, the reply was meant for chuck07, I mess up with the quote, my bad ;)
I am in California, and I am not a realtor/lawyer, just a normal buyer.
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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When you are talking about a couple hundred to a thousand dollars, they could all mean the same.
I think what you mean to say is that no, your agent did not tell you that. Thanks for the...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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The seller normally pays the buyer's Realtor commission... Of course, you could try to negotiate for a corresponding reduction from the seller if you are not using a realtor, but unless you have a...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Are you offering asking price or below?
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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Found a home I am interested in but it is a short sale. From what I read, short sales usually go for higher than the asking price as bids come in to the bank. Now, I am not familiar with these in the...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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right, but foreclosure is more problematic though, the condition on the property is usually worse.
My escrow just closed, and it took me 5 months even for a all cash. A sudden drop in price is...
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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why would a buyer NOT get a RE professional? there's no downside (unless you get an incompetent one)
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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If you can pay all cash it will speed up the process
How to buy a short sale home - worth the hassle?
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Thread created 11-17-2011 by BlueOvalStangGT
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I'm looking at a short sale condo in Chicago for the second time this weekend.
The building is really nice for the price range. The conversion was done around nine years ago and it was done...
