If you really want this property, just keep checking with your agent - we usually can program our MLS so that it gives us an alert if a property becomes available.
If it has not been foreclosed yet, there are a few other possibilities:
- the listing automatically expired but property is still available. The listing agent can renew or re-list this if the homeowner still desires to do so.
- the listing expired because the homeowner decided to work with another agent.
- the listing expired because the homeowner decided to pursue other avenues, such as loan modification or give up the property through deed in lieu.
Your agent should be able to guide you through. Let me know you have any more questions.
It would be interesting to know who the lender is.
You can certainly resubmit an offer to supersede the previous one, or perhaps an addendum may suffice to make changes on your previous offer. But for clarity purposes, if you really want to make a change, re-write your offer.
I still think the seller should have accepted ONE offer, and submit that to the short sale lender(s).
Assuming your offer is one of 2 offers being reviewed (again, CONFIRM this with your agent...this is not typical), there is nothing to stop you from increasing your offer. It may put you in a better position, and a revised offer automatically overrides your previous offer. Worst case scenario? An increased offer only improves your chances of being accepted, but depending on the result of the fair market value of the property, the short sale lender could counter to a higher offer to come closer to the fair market value. This is the worst that could happen, but your increased offer does not jeopardize your acceptance.
At the risk of being redundant, talk with you agent to ensure that there are actually 2 offers in review by the lender. You don't want to increase your offer unnecessarily.
Who is negotiating the short sale? It would probably be either the sellers agent or the sellers attorney. Have your agent stay on top of it. Often, the bank will only consider the first offer submitted, depending on the lender. Ask if the lender is considering more then one offer, also ask if the seller has submitted all the paperwork that is needed for the short sale. Has the short sale been assigned to a negotiator? Is the person handling the short sale for the seller in constant contact with the lender.
Often if the lender is not questioned daily the file gets stuck in the bottom of a pile. I would not resubmit an offer without the advice of your agent. Make sure your agent knows what is going on on the other side of the deal.
Good luck- unfortunately waiting for three months is not all that uncommon. Many of the banks are swamped with short sales.
"The agent did not answer phone call, and the office has no one answer the phone this morning. I got no reply from email either. You may want to look at other houses.
Is there anyone can tell me what should I do if I still want this propetty? Can I still try to resubmit my offer? What this mean: listing is expired?
The seller told my agent that he submitted two buyers and he want the lender make a decision. From his massage, we guess the other buyer might be a cash offer but lower than my offer. Also both of our offers are lower than the listing price. Lender didnâ€™t request submit two buyers. I do have an executed contract.
I concern that the lender may accept the other buyer offer without reviewing my new offer since the lender donâ€™t have time or didnâ€™t find my new offer file.
How can I find out the sellerâ€™s lender? If I ask my agent just submit a new offer as an addendum, will it mess up everything? If rewrite a new contract, will it mean we have to wait another 30 days?
The seller agent said he hasnâ€™t gotten any response from lender. So I think my offer was submitted to the short sale lender. Is there other way to confirm if my offer was submitted to the lender?
I feel helpless since my agent said itâ€™s hard to reach the seller agent. I called seller agent as well asking for the lender, but didnâ€™t get any response. Is he supposed to tell me or my agent? Can I directly contact the lender if the seller agent and my agent donâ€™t have time to do? If the seller agent is helpless and ignores our request what we can do? Can we directly ask the seller?
Thank you again,