Many things could have happended here. Odd things happen with short sales all the time.
1. homeowner always has the option of changing their minds even if an offer is on the table. The homeowners may have had the home removed form the MLS and are foreclosing.
2. The bank rejected the offer and said they are not interested in a short sale
3. homeowner removed the home from the market because they are patching things up with their lender.
4. another offer besides yours was accepted by the lender
My advice is to move on. This is a buyer's market. Don't get stuck on one home. There is plenty to look at out there, especially in Phoenix.
If you are saying that they told you the listing was removed from MLS because your offer was good enough then this is not that odd. Most agents put it AWC / active with contingencies but they can put it pending...
It is to the sellers best interest not to remove it from the MLS as even though your offer may be good enough to possibly get the bank to approve it, this doesn't mean you won't walk before approval from the bank as it could take to long to be the short sale approval.
The property being scheduled for foreclosure in a couple of months doesn't mean anything. A very large number of short sales have a pending foreclosure coming...
You need to have your agent speak to the listing agent to clear up any confusion.
Brenda & Ron Cunningham
**Recognized in the Phoenix Business Journal as one of the Top 50 Agents in the Valley""
* is it temporarily off the market because so many offers came in & they accepted one?
* is it off the market because the seller is looking at other opportunities instead of a short sale?
You say offer is good enough? Most agents want to have a great offer to present to the bank & welcome back up offers. Will they allow for you to write a back up in case the first offer falls through?
It is very common to have the foreclosure date set for a couple of months (most sellers have missed several payments when they do a short sale). The sale will be pushed out if they are still working on the short sale by the time the date comes around. Many banks are able to respond to short sales in less than 3 months now.
hopefully your agent can ask a few more questions & get solid answers for you. If you need an agent feel free to contact me & I would love to help you!
I don't understand why an agent would just change it to Pending status instead.
Have you buyer's agent contact the listing agent to see whats going on and ask for a copy of the seller signed offer.
Best of luck!
- The modification while being in foreclsoure is accepted.
- No short sale is accepted. Just remember, sometimes you make an offer on a short sale without knowing that the bank would even accept a short sale.
- Another offer is being considered.
Your agent should get a straight answer from the listing agent.
Something does not sound right with this one. Do you have a buyers agent?
What is the address and we can dig a little deeper to get a better understanding for you.
Arizona Homes for Sale by a Guy from Iowa