i am up to my knees in short sales!! (fees, price, inspection) - Foreclosures, Short Sales, and REOs - - City-Data Forum

PhoenixRT · 11-26-2007, 08:51 PM

I went and looked at homes in the phoenix area and found some that matched pretty well what I wanted. Of course money s a big factor down here so we focused in on the better priced home and of course find ourselves deep in the "short sale" territory!
We put in an offer tonight on a house that already has an offer being played around between the bank and the other buyers agent. The other buyer asking for lots of extras and our offer is pretty clean....higher than their offer, not asking closing fees....since we are going VA we cant get our own termite inspection so we just asked for that to be done at the tune of $75. I would say....fairly clean offer compared to what the other buyers have been dickering about for the past week.
Its all up to the bank to figure out what to do with us I guess. It is nervewracking that we are just dealing with a bank and not real people.
I sure hope we dont have to wait weeks to find out whats going on, as i have heard in some short sale cases.

garth · 11-26-2007, 09:50 PM

Wow, a bidding war in this market! Hopefully they won't play each of you against each other . . . be careful and good luck.

PhoenixRT · 11-27-2007, 05:43 AM

haha, i know. I was thinking to myself that there are 55K homes for sale in phoenix and the one we looked at this weekend just happened to catch two couples eye. It is the best price for the size and amount of land so it doesn't surprse me.
There is enough out there that I am not getting into an actual bidding war, if the other buyers try and come up then we will just walk.

LinusK · 11-27-2007, 10:21 AM

Phoenix - who told you what the other offer was for?

Were you given a copy?

DMenscha · 11-27-2007, 12:18 PM

Quote:

Originally Posted by PhoenixRT

Its all up to the bank to figure out what to do with us I guess. It is nervewracking that we are just dealing with a bank and not real people.

I think it's important to realize that in any organization, everyone is authorized to say no, one has to work their way up the chain to find the person that is authorized to say yes. That usually takes some time. They are very real people, but the hierarchy of decision making is what complicates things.

The person authorized to say yes is probably looking at dozens of transactions, not just yours. Good luck in any case.