Over two months ago I submitted an offer of 285k through FHA loan on a short sale home
but I recently got qualified for a conventional loan of 295k. The home is listed for 250k. I asked my agent if she can submit a new offer of 295k from the conventional loan since i felt this was a better chance of me getting the house. she said yes but wasnt sure. She said she submitted the offer and has left messages and called but no response from the other party . i know its a long time to wait for short sales but is there a chance for me? How can I find out sooner?
Hello,
Unfortunately, short sales are anything but short. There really is no way of finding out anything sooner. The bank will respond in their own time frame. All banks have different time frames and every sale is unique. It's up to you if you want to wait it out. I have seen buyers wait and wait only to find out they got beat out by another buyer, or they found out the bank approved the sale but at a higher sales price. If you would like more information, please feel free to give me a call and we can discuss your options.
Michelle Gonzalez DRE# 01427179
Michelle@selectremax.net
RE/MAX Select
562-572-5224
Ask her about simply sending an addendum with the change in financing terms. A new contract will likely trigger a restart in the procedures. Chack out my blog for an expanation of the delays.
http://bobbyg94596.blogspot.com/
Maybe it’s time to let Bankruptcy Courts deal with Neg-Am Mortgages.
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