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Hi everyone, thought I would drop in and see what all the fuss is about, LOL!! Looks like ya'll are having a great time over here.
jwestate, I could read your post. It is difficult with shorts and repo's. the bank has had an appraisal done and they get fixated on hitting their numbers. AND more buyers out there. Make sure your agent is doing an analysis for you to tell you what the bank already knows.... that will let you know what they think the value is. That may help you.
shelly
Shellytc and and yes this is a great group. We have people who are selling, buying and some who have sold their homes. It is a great thread.
What about the 2nd property, I offered $5K over their asking price and then another $5k with the "Highest and Best offer" this may be a stupid question but when sellers list at a price and the price is met are they obligated to sell?
My feeling right now is they didn't really have Multiple buyers, but they just wanted to see how high I would go.
I'm sorry you feel that way. No, even when the agent puts a "listed" price, the bank doesn't have to agree with it. They will have their own independent appraisal or BPO (brokers price opinion) to get to a FMV. They are receiving multiples. I am working a short sale that had 2 offers right away, and a third came in a week later, I just got 2 more phone calls to see the property tomorrow..... even though offer number three is ok'd from the bank and going to the mortgage investor. I have to keep offers alive becuase anything can happen with the bank or with a buyer.
do your best, know the values and if the agent calls and says the banks says xxxxx, it is really what the bank is saying. They want to make a sale for their seller, not jack you out of money or worse, scare you off!!!!
What your saying helps to explain some of what is going on and I can appreciate the seller's relator is working for his client, but how long do you generally wait before and offer is accepted? I don't mind losing to a higher bidder, but as I buyer I need have an idea of when to move on.
I'm trying to make this home purchase taking advantage of different programs that are out there, downpayment assistance, employee assisantance and everybody has their own paper work and time line, and I can't move forward without a signed purchase and sales agreement. Wouldn't we all be able to move if an offer accepted, counter offered or rejected.
How long does it usually take for the "Bank" in bank own property to respond?
WOW, Love it we have new recruits at camp!
Lacey glad to hear you two are back at home and Mr. Ls back on meds, I sure hope he gets this under control fast.
Sorry it is so late with me posting but I have had to get over my tizzy fit. Here is the story we got-The buyers agent called mine and said that she has left 3 voice mails and has sent 2 e-mails to her buyers and they have not answered. Her words are I don't know if they are out of town for the holiday or if they are "jacking us around". So that is all we know, the agents and I all agree now that these people are just out wasting everyones time, I doubt if they are even buyers. I said if they get bored next Sunday they should just go to the damn movies! Yes I am mad, I have sat here for the past 4 days waiting and they dont have the common courtesy of a goat! Pheww I am stressed. And of course no calls over the weekend either.
would you believe I have never in my life had a s'more! They do look good though.
What?!? Break out the marshmallows and chocolate woman!!
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Shellytc and 
and yes this is a great group. We have people who are selling, buying and some who have sold their homes. It is a great thread.
