Short Sale
We put in an offer for a house that was a short sale months ago. The listing price was $349,000 and we put in an offer at $369,000. The listing agent said that there was one higher offer than ours, was a solid offer, and had a considerable down payment... however; we would be the first back up offer. The other day, I noticed that the house was being listed again but at $359,000. I asked what had happened and the listing agent said that the first offer was still solid but they are concerned that the bank will still not take the offer and so they were going to get additional back up offers. It seems strange to me. What is actually happening here?
Congrats! Hope it works out.
We did take your advice and kept looking. We put an offer in on another house and will be closing on it later this month. Thanks for your help!
George,
If you email me the address of the listing, I'll see what I can find out for you. My email is jackie@jroark.com.
But I do agree with Vicky, I would be looking for another home, since at best, you are a backup offer and it looks like the first offer is pretty solid.
No idea. Do you have a ratified contract or just what the agent said about the status of your offer? Regardless, in your position - back up at best - I wouldn't be waiting, I'd be house hunting.
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