I have made an offer on a short sale which I like very much. It has been about 2 months and my agent has

Saroj
Home Buyer
92119

called the seller's agent several times. The response she gets everytime is that my offer is the strongest and that the Bank is not accepting any other offers. Is there any ethical issue involved if I called the seller's agent and ask if I could speak to the Bank myself to get a better answer and to possibly expedite the matter?

Answers (4)
Ashley Munroe
Both Buyer and Seller
Chicago, IL

YES! First find the Bank's Chairman and CEO. Write them a letter indicating that you are offering money for a home that they will otherwise lose money on. Don't deal with the low-downs -- get an executive escalation (yes, there are people there to serve you in this fashion). Deal only with them, and well, be a Jeff Lewis (i.e Flipping out).

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Wed Aug 6 2008, 16:58
Ellen Bosworth
Agent
Laguna Beach, CA

Patience is so difficult when you are excited about a home purchase. But, it usually is true that you just have to wait it out. The banks have so much property on their booksand that means a slow process. It sounds like your agent has followed the process. There are good buys out there with some of the short sales, so it is probably worth it in the end. I doubt very seriously that you would have any luck contacting the bank"s representative. I represented a buyer in a transaction that was a bank owned property and it took time, but my client got a great deal.,,Best Wishes

Wed Aug 6 2008, 16:55
Sj209
Both Buyer and Seller
California

You can call, it probably won't do any good. You can't expedite a short sale. You have to be patient and expect the worst. The deal may never go through, be prepared for that. Keep in mind, some 'short sale' properties will never be sold short, many go to foreclosure. I wouldn't bother with short sale properties if I were you -- very frustrating, can be a waste of time.

Wed Aug 6 2008, 14:48
Susan Wesely
Agent
Saint Paul, MN
FIRST ANSWER

Yes - your agent is doing her job, and the bank will work with the seller agent on their timetable. If you are on a schedule, you may have to retract your offer and start over with something that does not require bank approval. If oyu are not on a fixed schedule, plan on at least another month... Please discuss this with your agent. Best of luck.

Wed Aug 6 2008, 14:45

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