First time homebuyer with a lot of patience. I'm currently looking for a townhome. Out of all the townhomes I
looked at, I am most interested in a short sale. It's been in the market for 9 months now and a bid of 220K in March was rejected. This homes is dated and needs fixtures. Because we are in the year where there is a 8k tax credit. I can see why some homebuyers are staying away from this home. I was told by a experience loan officer to put a bid in for 175K for the listing price of the home of 255K. What is the % bid for ??
I would agree with Gino's answer, but you could also have a back-up home selected if you should want to use the 8k tax credit by November 30.
Give me a call to help in that second home search.
Melissa Leetzow E-Pro Realtor
Coldwell Banker Primus
847-639-2000
Hi First Time Home Buyer,
You can put any bid in, it doesn't mean that you will get it. So the % is irrelevant. The $8,000 tax credit must be used by November 30th. So what you need to think of is this; Since you're patient...If you place the bid at $175K and get it in December or January then who cares about the $8,000. However, if you place the bid at $175K, and December or January rolls around and the selling bank says, we are rejecting your offer and we are going with another offer, now you don't have the $8,000 and you don't have the home.
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