Quote:
Originally Posted by slow4dr
That's good to hear Jeff.
I don't want to be a debbie downer but until the banks approve the terms of the contract you really should keep looking and making offers. The wife and I also fell in love with a place that was a short sale(one loan). Almost 120 days after making the offer the bank came back with $30K over what the house was listed for. There wasn't a "Comp" within 10 miles that could substantiate it. We raised our offer $10K(knowing full well we would have a tough time getting an appraisal high enough for an FHA loan) and they declined. The house eventually went to foreclosure and sold for roughly what we had originally offered.
-J
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I went through a similar deal, the bank countered back for 30k over asking. But what my agent told me is we should have agreed to there price because they will only be able to sell it for what it appraisal is. Nothing more.
There is nothing short about a short sale they take forever. Finally after 4 month of waiting the said house in now in escrow.