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Old 10-11-2013, 01:14 PM
 
2 posts, read 2,960 times
Reputation: 11

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Hello everyone. I am new to this site and this is my first post. I have been reading about short sales for the last year, especially since I put an offer on one Feb 1st. This is my first home and I am very new to the home buying concept lol. I am a single guy with no kids, so I am totally solo on this project ( I'm 34 ). Patience has never really been one of my strong points, but it sure did pay off for me! I am 3 weeks away from closing on my house and this process felt like it took foreverrrrrrrrr. First, it took 2 months for the bank to view my offer, then they countered, and I accepted. Then a month later the seller files for bankruptcy, doh!! Another hold up was there was an issue with the address from taxes 3 years ago (?!), then we waited and waited for them to FINALLY accept the short sale. I am 3 weeks away and praying that there are no other snags. But for a house that is only 4 years old, I got it at basically 50% less than it was when it was built. Good luck to every/anyone buying a SS, its agonizing but should be well worth it!!!
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Old 10-11-2013, 01:25 PM
 
Location: Savannah GA/Lk Hopatcong NJ
13,180 posts, read 26,868,942 times
Reputation: 11389
Congrats!!
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Old 10-11-2013, 01:45 PM
 
Location: NJ
31,774 posts, read 36,829,643 times
Reputation: 24499
ill buy it from you for 50k
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Old 10-11-2013, 01:50 PM
 
2 posts, read 2,960 times
Reputation: 11
Quote:
Originally Posted by CaptainNJ View Post
ill buy it from you for 50k
Lmao, I wouldn't sell it for less than 200k. It took 10 months of waiting and emotionality wearing me down. Thanks but no thanks lol.
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Old 10-11-2013, 02:36 PM
 
Location: Fair Lawn, NJ
244 posts, read 481,169 times
Reputation: 270
Post again after you close. You don't want to be celebrating prematurely. =)
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Old 10-11-2013, 02:39 PM
 
Location: Mount Laurel
4,187 posts, read 10,869,340 times
Reputation: 3503
Quote:
Originally Posted by rocknyc View Post
Post again after you close. You don't want to be celebrating prematurely. =)

Yeah.. don't celebrate yet. After you closed, then it's time to go out and have a celebration.
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Old 10-11-2013, 02:57 PM
 
Location: Randolph, NJ
4,073 posts, read 8,321,224 times
Reputation: 3251
Quote:
Originally Posted by sj08054 View Post
Yeah.. don't celebrate yet. After you closed, then it's time to go out and have a celebration.

And might hold off on that celebration until you sell it again and confirm that you got a great deal.
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Old 10-11-2013, 03:20 PM
 
800 posts, read 1,154,228 times
Reputation: 793
i lost a short sale (waited 5 months) even after having a closing date, the seller "delayed" the closing 3 times before conceding they had no intention of selling and waited for foreclosure. best of luck to you in the upcoming weeks
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Old 10-11-2013, 03:34 PM
 
357 posts, read 971,092 times
Reputation: 218
Have you don't your inspection yet? Short sales are not all they are cracked up to be and I bought one at a "great" deal too.
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Old 10-11-2013, 03:43 PM
 
Location: New Jersey
10,399 posts, read 14,603,849 times
Reputation: 11204
Sorry to say but please don't count your chickens before they hatch.
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