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Its really frustrating, our agent feels that our offer is fair but believes that it will be rejected and we will be out. Not sure what to do. We are going back to see the property to see if we want to come up other wise we are going to roll the dice. It's hard because of the emotional investment, but as our agent said its only worth what someone is willing to pay for it. Some paper pushing "expert" values the property more than what we are willing to pay for it, but we are hoping the common sense takes hold and it works in our favor. We are just not willing to come up that much to close the deal. There are good deals and there are bad deals, this one may not work out in the end. But we are not going to make the same mistake that the previous homeowners made. WELLS FARGO, WAKE UP, LOOK AT THE COMPS AND CLOSE THIS DEAL!!! Sorry, I just needed to vent. Good luck to all of you!!!
Thanks we appreciate it. We asked to see the property one more time and are considering placing a higher offer. We want to view the property to see the condition prior to upping our offer another 10 to 15k but now the listing agent isn't calling our agent back. This is why the real estate market is in the condition that it is in. I am ready to just save all of our money and buy a home with cash if this doesn't work out. We are frustrated, but time will tell what happens. There are too many people involved in this sale. We have a buying and a selling agent, a third party negotiator, the banks processor, and the banks negotiator. The said reality is that only us and our agent have done any of the work. This is extremely frustrating, but if this agent is just trying to ignore our request to see the property to process a back up offer, I will be contacting the state board of real estate, because this is shady at best. Our agent seems pretty disgusted too. We have the comps, they don't just a drive by bpo which is over inflated at best.
Two garage doors needs replaced, stair banisters are broken, carpet has stains from pets, paint on the carpet, cigarette ashes and other ashes are all over the carpet. Nail polish is on the walls, carpet and other flooring. Venting is not done to code. Holes in the walls, all the doors upstairs are broke with holes in them and pulled off the hinges. Wells Fargo look at the property, if you want to fix it for 255, we are in if not we have to fix all of these issues prior to moving in and that is what is on the surfaces. What hides behind the walls?
I pray everything works out. So unfair its they dont.
Quote:
Originally Posted by Bfrey64
Two garage doors needs replaced, stair banisters are broken, carpet has stains from pets, paint on the carpet, cigarette ashes and other ashes are all over the carpet. Nail polish is on the walls, carpet and other flooring. Venting is not done to code. Holes in the walls, all the doors upstairs are broke with holes in them and pulled off the hinges. Wells Fargo look at the property, if you want to fix it for 255, we are in if not we have to fix all of these issues prior to moving in and that is what is on the surfaces. What hides behind the walls?
Bezwada. .I locked in my rate about two weeks ago. I had to sign a rate lock agreement. I dont think your rate is truly locked until you sign that document. You might want to contact your lender tomorrow for verification. Also two days before closing you should get an updated good faith estimate and hud 1 statement.
List Price: $325,000 - price drop the same day to $300,000
Location: Williamsburg, VA
Offer: $300,000 with no closing assistance, as is
One lein (that we know of), with Wells Fargo
1/7/14: Home is listed on market again (previous buyers backed out because of inspection)
1/11/14: Offer made for list price (with a request of closing 3/17/14 which is the earliest we can close, of course anticipate this will take longer)
1/13/14: Seller accepts offer but changes closing date to 2/17/14 (odd, as this is a known short sale)
1/19/14: Received previous inspection that caused buyers to cancel previous contract, no issues so we waive this contingency. Agree to do pest / wood inspection now before bank approval
1/23/14: Pest / Wood rot inspection complete. No issues so we waive this contingency
1/25/14: Contract ratified by buyers and sellers. We are waiting for bank approval before order appraisal.
1/29/14: EMD cashed and places in escrow.
1/31/14: Confirmation from our agent that sellers bank has documentation and HUD.
2/6/14: E-mailed our agent inquiring as to whether or not a negotiator has been assigned and BPO ordered
2/7/14: Our agent notified us that the BPO is scheduled for today. He is going to attempt to get some information / answers next week
2/10/14: Spoke with our agent and confirmed BPO took place on Friday. Our agent was told everything looks to be on track. Don't know exactly what that means, as the listing agent didn't know the BPO amount as of yet.
2/17/14: Received HOA documents from listing agent. Sellers owe $1400 in back HOA fees and were not going to pay it. Discussed with our agent and he is willing to take the hit on commission if need be. Doesn't want to attempt to get bank to pay it because it may delay things even more.
2/19/14: Our lender did first review of paperwork. Everything looks good on our end so far. Asked for a couple of explanations, but only for routine deposits. No major issues.
2/20/14: Our agent spoke to listing agent and was agreed that sellers will pay all back HOA fees and any fees current as of closing. (whenever that is). 3/4/14: Our agent called with the news...BANK APPROVAL!!!!
Was starting to get a little worried (must have been the gloomy weather)! Hopefully we can get things moving so we can close within a few weeks (we are going on vacation for spring break and would LOVE to have the house by then, for a few reasons!)
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