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Fort Lauderdale area Broward County
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Old 08-31-2011, 09:45 AM
 
Location: Florida
12 posts, read 43,037 times
Reputation: 11

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Hi, I am new to the South Florida area, having moved here two months ago because of a job transfer. My husband and I have been looking for a home in the Broward County area with a realtor. We went to see a bank-approved short sale one night last week and were unable to get into the home because the wrong key was in the lockbox. We went back on Saturday and saw the house, which was was gorgeous and immaculate. We immediately put in an offer on the house for the full bank-approved price advising that we were paying the total amount in cash. My realtor followed up with the other realtor yesterday and was told that the sellers received two other offers in the same area pricewise but both offers were contingent upon the buyers obtaining an FHA mortgage. We are being told that we have to wait while the sellers speak to their attorney about which offer they should accept.

This isn't brain surgery here, is it? We are offering the full amount in cash, why would they even consider any other offers that were not in cash? Or is this a stalling tactic on the sellers' part in order to remain longer in the home living free and not paying their mortgage? What should I do?
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Old 09-01-2011, 11:02 AM
 
Location: Miramar, FL
389 posts, read 958,931 times
Reputation: 106
I don't think they are waiting to see if they can live there for free longer. I've hears the short-sale process can be very long for both buyers and sellers.

I think the other offers may be slightly higher than yours. And although you are offering cash, if the others can get an FHA loan it is the same as cash to the bank. Makes no difference to them, they are just trying to recoup as much money back as they can.

Are you willing toi raise the offer? May be your best bet. Or maybe ask how much the other offers are for.
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Old 09-07-2011, 10:51 AM
 
Location: Florida
12 posts, read 43,037 times
Reputation: 11
The short sale price was already approved by the bank. The sellers finally accepted our offer and have signed the contract. We are on our way. . . Thanks for your input.
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