Home Buying in 92376>Question Details

Ca, Home Buyer in Fontana, CA

needed answers pls.

Asked by Ca, Fontana, CA Tue Dec 4, 2012

08/24/12- Property was originally listed 199k, according to listing agent got his VERBAL ShortSale APPROVAL on 10/19/12 which the first buyer had backed out, then price increase to 208k. As a 2nd buyer, the listing agent and I put an offer on 11/12/12 which seller accepted and 3 weeks now CITI FINANCIAL BANK said they are still reviewing our offer. Do u have any idea how citi financial work?and when they can give us final approval?how long?are they gonna accept our offer of 215k asking seller to pay 7k closing cost?thanks so much

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0 votes Thank Flag Link Thu Mar 13, 2014
, CA • Tue Dec 4, 2012
Flag Thu Mar 13, 2014
Very dificult to answer, the bank is in a situation that nobody wants to be, they don't want to lose money, they don't really have to answer, at this point they have control of the situation. They don't have to sell, probably looking for the best alternate, and primarly number one reason few agents don't want to work the short sale industry and must of all takes to long, the are going to be doing and/or running one or two BPO ( Broker's Opinion of Value ) and or appreisol, febore they can give you an anwser, how ever you are going to be paying what we call in the market, fair market price, nothing else nothing more, as a tipycal seller they don't have to pay any closing cost, and remember everything is negociable, please fill free to call me any time. Thanks 24/7/365 a year
0 votes Thank Flag Link Tue Dec 4, 2012
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