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Old 01-13-2009, 09:37 PM
 
Location: Long Island
9,933 posts, read 23,158,205 times
Reputation: 5910

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Quote:
Originally Posted by Rachael84 View Post
The owners aren't showing the house in Island Trees because of a death in the family. It's been taken off the market, but still on mls. It's a short sale though, so I don't know how they took it off since it isn't their decision. It sounds very fishy.

Our bid was accepted. We had to go a little higher. Ended up going to 275,000
Timing is everything! Great price Congratulations
Now all you need is that inspection asap (we have someone here on the forum you might want to talk to) and off to contract you go...
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Old 01-13-2009, 09:45 PM
 
Location: Long Island
9,933 posts, read 23,158,205 times
Reputation: 5910
Quote:
Originally Posted by Rachael84 View Post
The owners aren't showing the house in Island Trees because of a death in the family. It's been taken off the market, but still on mls. It's a short sale though, so I don't know how they took it off since it isn't their decision.
FYI, a short sale merely indicates that that lender is willing to negotiate; the current owners retain the right to decide in this case.
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Old 01-14-2009, 04:30 AM
 
Location: Austin, TX
172 posts, read 410,281 times
Reputation: 50
Quote:
Originally Posted by OhBeeHave View Post
My parent's Levitt house had a shed roof dormer for the 2nd floor bathroom.
(I just Google earthed the house to make sure I was remembering correctly.)

Cost wise, the shed roof is less expensive to frame as opposed to the reverse gable.
Agreed but I think the reverse gable looks nicer
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Old 01-14-2009, 04:46 AM
 
6,384 posts, read 13,161,099 times
Reputation: 4663
So I guess you went with the number I suggested($265,000) then ended up at $275? I hope everything pans out for you.
Congrats!

Quote:
Originally Posted by Rachael84 View Post
The owners aren't showing the house in Island Trees because of a death in the family. It's been taken off the market, but still on mls. It's a short sale though, so I don't know how they took it off since it isn't their decision. It sounds very fishy.

Our bid was accepted. We had to go a little higher. Ended up going to 275,000
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Old 01-14-2009, 11:08 AM
 
Location: East Northport
3,351 posts, read 9,761,758 times
Reputation: 1337
Quote:
Originally Posted by Elke Mariotti View Post
FYI, a short sale merely indicates that that lender is willing to negotiate; the current owners retain the right to decide in this case.
Unfortunately, some properties are listed as short sales when the owner has not yet even approached the lender to see if they might approve it. When dealing with short sales always find out where they are in the negotiation process before proceding.
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Old 01-14-2009, 11:35 AM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,309,179 times
Reputation: 7340
Quote:
Originally Posted by TomMoser View Post
Unfortunately, some properties are listed as short sales when the owner has not yet even approached the lender to see if they might approve it. When dealing with short sales always find out where they are in the negotiation process before proceding.
Why do real estate agents list them that way if the lender has not even been approached? Isn't that a dishonest thing to do?
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Old 01-14-2009, 11:36 AM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,309,179 times
Reputation: 7340
Default Congratulations!

Quote:
Originally Posted by Rachael84 View Post
The owners aren't showing the house in Island Trees because of a death in the family. It's been taken off the market, but still on mls. It's a short sale though, so I don't know how they took it off since it isn't their decision. It sounds very fishy.

Our bid was accepted. We had to go a little higher. Ended up going to 275,000
Yay! So are we invited to the housewarming party?
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Old 01-14-2009, 12:32 PM
 
Location: East Northport
3,351 posts, read 9,761,758 times
Reputation: 1337
Quote:
Originally Posted by I_Love_LI_but View Post
Why do real estate agents list them that way if the lender has not even been approached? Isn't that a dishonest thing to do?
Not so much dishonest, but stupid.
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Old 01-14-2009, 04:50 PM
 
1,386 posts, read 5,347,184 times
Reputation: 902
Its short regardless of whether the banks agrees. short sale just means that you're selling for less than the mortgage.
Mortgage 300
Sale 290

The "responsable" short sale involves the seller coming to the closing with cash to pay off the loan that they took.
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Old 01-14-2009, 07:13 PM
 
Location: Concrete jungle where dreams are made of.
8,900 posts, read 15,942,478 times
Reputation: 1819
Quote:
Originally Posted by I_Love_LI_but View Post
Yay! So are we invited to the housewarming party?

Only if you bring something
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