Foreclosure in Meriden>Question Details

Sally, Home Buyer in Meriden, CT

I have recently put a contract on a property at 109 Woodland St. Meriden, CT. I did it through a realitor. They say (you) have not responded.

Asked by Sally, Meriden, CT Tue Oct 26, 2010

Contract date 9/27/10 to date the bank has not responded to the contract.

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5
Sally,
According to my resources, this property is owned by Deutsche Bank, I presume through a foreclosure. Deutsche Bank has a substantial portfolio of such home thoughout the state (and country) as does its listing agent. My experience with Deutsche Bank is that the tend to take their time with their responses, however if I understand correctly, you sumitted an offer almost a full month ago and that seems to me quite excessive. I expect to hear within ten business days when making an offer on a bank-owned property - some are faster, some take longer.
My suggestion would be "aggressive patience". Request your agent to review all of the the materials you have submitted thus far to assure nothing has been overlooked. Have your agent contact the listing agent to confirm his reciept and assure you that all materials remain are present and up to date (prequal letters, time to accept...). If your offer was substantially below asking price Deutsche Bank may not respond at all and you may, if you feel the value is there, consider submitting a new offer at a higher price.
I hope this helps. I wish you the best of luck in your purchase.
1 vote Thank Flag Link Thu Oct 28, 2010
Sally- I work @ Calcagni & we have the listing- which agent is representing you?
0 votes Thank Flag Link Fri Sep 30, 2011
Who is "you?" There are thousands of realtors.
0 votes Thank Flag Link Thu Oct 28, 2010
When searching with this Realtor was the word patience brought up. Do not know if this home is a foreclosed, REO, or short. Had a client I worked with for 3 months. We finally put an offer in and I said, patience. It was a short and an Estate. After weeks of incessant contact and not seeing on records, property was probated here in CT, I finally received the call that it would take at least 4-5 weeks for probate. Again, I said, do you have the stuff for patience. Yes, yes, yes. 2 days later, my buyer bought a property in NYC, without these issues.

I am sorry that you have to be patient, but I am assuming you are hoping the Realtor for the seller uses this site based on the "you" in your statement. If she's busy, don't count on it. Patience.

Good Luck,
"Your Beacon to Fairfield County Lifestyles"

Candace Lipira, Realtor
Keller Williams Platinum Properties
203-856-8501 cell
203-544-9786 home
candylipira@optonline.net
candylipirahomes.com
0 votes Thank Flag Link Tue Oct 26, 2010
Depending on who the bank is, this could be true. Many lenders have frozen all activity until they determine whether or not all of their foreclosure paperwork is in order. Some lenders have filed an 'Affidavid of Debt' (part of the foreclosure process) in a non-compliant manor. This puts their ownership of the property in question.
Web Reference: http://www.danrossre.com
0 votes Thank Flag Link Tue Oct 26, 2010
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