Property Q&A in Burien>Question Details

Kyle, Home Buyer in Burien, WA

Is this still pending?

Asked by Kyle, Burien, WA Mon Nov 21, 2011

--
This question is about this property: http://www.trulia.com/property/1052940545-622-S-148th-St-Bur…

Help the community by answering this question:

Answers

3
In addition to what Dan said, you should also be sure you're the type of buyer who is interested in short sales. The problem with short sales is you often don't know WHEN they will actually close (as is apparently the case here--I haven't verified the facts), and even IF they will close. Most short sale listings are unsuccessful. Buyers who intend to live in a home usually want to have a better idea of when they can move in--especially if they have a lease which might renew for another period if they don't move out by a certain date.

Also, keep in mind that with short sales (and to some extent bank owned) it's risky giving notice to your landlord before you actually close, because you might end up with a sale that doesn't close and a landlord who wants you out.

Finally, don't be fooled by short sale listings which are listed at a price so low that the bank would never accept it.
1 vote Thank Flag Link Tue Nov 22, 2011
Kyle,
This is a short sale that shows Pending Inspection since July 17th. In most cases, agents will accept a back up offer, but the owner may or may not be open to showing the home.
If you want to pursue this, select an agent to work for you and try to arrange a showing. Best of luck.
1 vote Thank Flag Link Mon Nov 21, 2011
Hi Kyle. Thanks for your inquiry! I know this property and the listing agent so I just gave him a quick call and confirmed that the property is in fact still pending. It is a short sale.

As Kary said below, short sales can be tricky but more and more of them are closing these days. The banks are more cooperative and providing you're working with agents who know "the drill," you can possibly get yourself a great deal!

Good luck to you in your home search!
0 votes Thank Flag Link Tue Nov 22, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer