Market Conditions in Oakdale>Question Details

K R, Home Buyer in Oakdale, CA

We made an offer and bank countered we accepted within a few hours. We havent heard anything yet but it

Asked by K R, Oakdale, CA Thu May 29, 2008

has
only been 24 hours but the house now shows as pending on mls. listing agent said the paper work would be back in 24 48 hours. Should the house be showing pending due to our offer we accepted or could that be someone else?

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2
If they accepted it yes. Foreclosures are done via the internet. The original documents have to be overnighted and signed by the bank. They will then send them back. I would be happy to see the property pending. Most are left on the market to attract back up offers in case financing falls through. Foreclosures are very time consuming. Be patient and it should pay off.
Good luck and best wishes in your new home!!
0 votes Thank Flag Link Wed Jun 18, 2008
It is possible, but unlikely that the listing agent would pend the property that quickly. Because I am an optomist I would assume that it was a result of your offer and the listing agent had too many espresso's that morning. The listing is duty bound in most scenarios to disclose the presence of multiple offers. I would simply call them and ask the question. If they say no, then it was your offer, if they say they can't disclose whether there are multiple offers, then that is one of those few situations. Hope things turn out for you.
0 votes Thank Flag Link Thu Jun 12, 2008
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