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Old 03-12-2011, 10:20 PM
 
5 posts, read 5,682 times
Reputation: 11

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So my husband and I have found a short sale home that was listed at 148,000 dollars. The seller he would accept our offer at 160,000. We said ok, no prob. got everything done, the property appraised at 160,000. Well bank never got our appraisel in time due to our realtor, and they countered back at 210,000. I am not angry beucase they have no comparibales or the appraisel to go off of. The property is not worth 210,000. So we resubmitted our counteroffer at 160,000 again with attached our appraisel saying the house is only worth 160,000. Will the banks take that into consideration. not only that, lenders wont lend out money for more than the property is worth, meaning, anything they counter back at, If they dont accept our offer would be comming out of our own pocket, the house is a fixer uppper and needs a TON of work put in, so we also submitted the pest report and the work that needs to be fixed beofre we close. what do you guys think?! will the bank take all that into consideration, Or should we give up. its been 2 months since we put in our first offer, my realtor is saying that we will hear within a week of our counter, I am so nervous! please help
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Old 03-12-2011, 10:29 PM
 
11,715 posts, read 40,438,984 times
Reputation: 7586
Bankers are some of the dumbest people on the planet. Keep trying but don't hold your breath. There's a good chance they'll eventually take the house back and sell it for less than your offer. Geniuses.
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Old 03-12-2011, 10:50 PM
 
5 posts, read 5,682 times
Reputation: 11
yes they are dumb! thanks for respoding so quickly
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