So the realtor selling the house decided to raise the offering price as if the second bank said no. Shady I tell you because he told my realtor that if I offered $8,000 more the second bank would probably go for it. See they didn't figure in the costs that they were going to have to incur in the whole deal so they just set the price at what was owed on the house.
But I told my realtor that maybe he should tell the first bank to slide some of that money to the second bank because we aren't raising our offer. We've been back and forth until we got to this point and NO ONE has offered them anything even close to what our offer is. So, we didn't go in giving them the world. lol
Then there's the lovely news on the other house. It too is a short sale. It too has two loans out on it and currently there has been an offer sitting for less than the asking price for over a month. Apparently the second banks don't like to give answers.
So, that is why we sit in a standstill. Isn't it amazing? Our realtor found another house that is brand new for sale. The person built it and never moved in. She's praying it's not a short sale and doesn't have two loans out on it.
At this point, I am just frustrated. Here I am pre-approved to buy a house, millions of houses for sale and still nothing to buy. Go figure. Maybe that's why we are all screwed. Ya think?
2 comments:
There was a house we really liked that was a short sale. We saw it in April. It had six offers on it. We decided not to offer.
Those offers are STILL sitting there and the house is STILL vacant.
The first house we offered on was a short sale. We offered. They countered with $50,000 MORE than their ASKING price. LOL
After that we said NO MORE SHORT SALES.
I'm hoping bank #2 will respond to you and you'll get the house you like. No, I'm hoping that the right house comes at the right time (and before you have to be out of your other house...)
I wouldn't have my perfect house if those other houses had worked out.
Yes. It IS part of the reason the financial institutions are in so much trouble. The banks are being greedy and trying to hold out and get more money. The smart ones that will manage to avoid going under are the banks that unload those houses as fast as possible. They NEED the cash from the sale and can't afford to pay for the taxes and upkeep required on the properties.
Good for you on sticking to your offer! Hopefully those second banks will wake up soon and realize that if they want to stay afloat they'll take what they can get.
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