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Old 02-26-2009, 08:48 PM
 
Location: Monadnock region
3,712 posts, read 9,180,449 times
Reputation: 2414

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<sigh> so I really have to just be patient and hope that buyer1's financing falls through (Countrywide? ) and that buyer2 moves on to something else.

Man, it's tough! Thanks all.
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Old 02-26-2009, 09:38 PM
 
Location: Columbia, SC
8,762 posts, read 17,127,843 times
Reputation: 6053
Quote:
Originally Posted by WannaComeHome View Post
<sigh> so I really have to just be patient and hope that buyer1's financing falls through (Countrywide? ) and that buyer2 moves on to something else.

Man, it's tough! Thanks all.
Either submit your offer anyway and wait, or move on and if it falls through and you haven't bought anything then it was meant to be.
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Old 02-26-2009, 10:51 PM
 
Location: Mpls - south for the winter
140 posts, read 468,626 times
Reputation: 96
Multiple offers on REOs is probably the norm not the exception - I've made 20 offers in the last 6 months and lost out on every property - thanks goodness. Number 21 came along and it was the best - multiple offers again - this time I got it, and I did not pay more just to beat out other buyers!

There are so many REOs if you don't get one - a better property will hit MLS tomorrow. Don't get into a bidding war - wait for another house.
Have patience - if prices continue to drop - a bargain today may not be a bargain 6 months from now.
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Old 02-28-2009, 07:54 AM
 
Location: Monadnock region
3,712 posts, read 9,180,449 times
Reputation: 2414
Oh I submitted the offer weeks ago. The LA just won't present it because he wants Buyer1 to get it (I want the dirty rats to go away ).

I am still checking the listings (nneren.com in my case), but there is nothing in my target area available in a price range we want or that isn't a dump (or just too small). I'd be a fool to not keep an eye out - just in case. but I really want that house!
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