U.S. CitiesCity-Data Forum Index
Happy Thanksgiving Day!
Go Back   City-Data Forum > General Forums > Real Estate > Foreclosures, Short Sales, and REOs
 [Register]
Please register to participate in our discussions with 1.5 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.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
Old 03-31-2008, 05:19 PM
 
384 posts, read 1,285,963 times
Reputation: 186

Advertisements

Out of curiosity, I was wondering if anyone has ever tried to put an offer on a house that is a short sale with a contingency to sell their home?? I know some owners are willing to take contingencies in this market but I doubt a bank would...thanks for any info!
Reply With Quote Quick reply to this message

 
Old 03-31-2008, 05:49 PM
 
Location: Salem, OR
10,956 posts, read 18,687,661 times
Reputation: 6886
I am not a short sale expert, but the ones I have done, they were clear that a home sale contingency would not be accepted.
Reply With Quote Quick reply to this message
 
Old 03-31-2008, 07:29 PM
 
610 posts, read 1,817,517 times
Reputation: 109
Simple answer: No

This is based on my experience
Reply With Quote Quick reply to this message
 
Old 03-31-2008, 07:53 PM
 
Location: Houston, Texas
469 posts, read 962,773 times
Reputation: 286
In my experience no, no and no.

But, hey it never hurts to try. You are guaranteed to not get the property if you dont try. Even if chances are extremly low if you offer the worst situation is that you get told no.
Reply With Quote Quick reply to this message
 
Old 03-31-2008, 08:14 PM
 
Location: Gilbert - Val Vista Lakes
6,066 posts, read 8,381,959 times
Reputation: 3677
I would not advise putting in a contingency offer on a short sale.
  • First of all it will probably be rejected. They want to sell the house now, and don't want to wait to see if yours will sell.
  • The lender will take all the offers they can get and accept the best.
  • It takes a long time to get a response from the bank. You may be waiting 8 weeks before having your offer rejected.
And remember that you buy a short sale AS IS. They will not make any repairs.

Be sure you know what you're doing, or work with a realtor when dealing with a short sale.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Foreclosures, Short Sales, and REOs
Similar Threads

All times are GMT -6. The time now is 08:15 AM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top