Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Hello all!!!
I'm a first time homebuyer, I made an offer on a short sale & the seller agreed. (We signed a contract) the bank came back with a counter offer 10,000 over the asking price, so we counter offered. ..long story short no word from the bank yet & noticed the house is active again on certain websites & at the price the bank was asking for should I walk away or did they already leave...smh
Hello all!!!
I'm a first time homebuyer, I made an offer on a short sale & the seller agreed. (We signed a contract) the bank came back with a counter offer 10,000 over the asking price, so we counter offered. ..long story short no word from the bank yet & noticed the house is active again on certain websites & at the price the bank was asking for should I walk away or did they already leave...smh
your real estate agent should be following up with your counter offer. Also, it is not uncommon for houses to stay on the market (websites, etc) even though they are under contract.
When the short sale bank stated the price they would accept, which was higher than your contract price, it apparently nullified your contract, and the Owner put the home back on the market at the price they know the bank will accept.
You have made a counter to the bank however you are apparently no longer under contract with the Owner. You should, if you want the house, insist on fixing your contract to reflect your new counter to the bank. If you don’t have a contract you have nothing.
However, the bank has spoken and you may be spinning your wheels.
You may want to leave the building, also.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,206,701 times
Reputation: 57821
That's typical. The seller prices it for a fast sale but the bank is not willing to write-off that much of the loan owed. This is exactly the same as happened to one near us a couple of years ago, the realtor now knows what the bank wants so they price it accordingly. Unless it's been a long time on the market, there is little point to making an offer less than asking.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
should I walk away or did they already leave...smh
Graceland
