Home Buying in 40165>Question Details

maggie5399, Home Buyer in Shepherdsville, KY

i Made offer on a house that was listed for 99,900 my offer was 88,000. it is short sale, bank said they accept 94,000 to 100,000. is that weird?

Asked by maggie5399, Shepherdsville, KY Thu Oct 25, 2012

Help the community by answering this question:


Get it in writing and then counter offer.
0 votes Thank Flag Link Fri Apr 26, 2013
I do agree with Ron, especially the part about talking to your Buyer's agent.
0 votes Thank Flag Link Fri Oct 26, 2012
If it is a short sale that means the listing price is likely less than what they owe on it, so it would not be weird for the bank to say they will only consider nearer to or at payoff. If it is a short sale you want to ensure that the bank has already approved it for short sale or you and others are very likely to sit for a long time. Also if it is a local bank then they can move quicker.
0 votes Thank Flag Link Fri Oct 26, 2012
First of all; that reply about 94-100; was that in writing?
If it was verbal; who said it?
My guess is that the Listing Agent said it to you, and nothing is in writing.
Am I right?

I would bet that the person at the Bank who said that, meant that they would accept $94,000 As-Is with no Closing Costs.
If you wanted to include some Closing Costs and/or repairs, they wanted to see $100,000.

Talk about it with your Buyer's Agent.

Good luck and may God bless
0 votes Thank Flag Link Thu Oct 25, 2012
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