Foreclosure in 93536>Question Details

Jay, Both Buyer and Seller in Quartz Hill, CA

Hello, there was a property for Short sale in Quartz Hill Ca that i and another person bid on......

Asked by Jay, Quartz Hill, CA Tue Dec 30, 2008

the bank?? or realtor office was asking $199,000 they(the bank?) wanted $250,000. I put in a second bid (the highest) of $215,000 never to be accepted/acknowledged by the (bank?).

The same tenent is STILL occupying the house and i know hasnt paid for over a year now. I would really like to by the property, is there anyway i can find if its in the foreclousure status? Its a Countywide owned mortgage. Any help would be appreciated.

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Answers

4
Jay,
Your real estate agent if you are working with one, should be able to find out the status of this property.
Please contact your agent or if your not working with an agent, I would be happy to help you.

Thank you
Sherry Ferfes
Sherryferfes@yahoo.com
661-952-2602
Web Reference: http://www.sherryferfes.com
0 votes Thank Flag Link Wed Jun 24, 2009
Hi Jay,

When you say you "bid on it" does that mean you used a Realtor?? If so, the Realtor should have researched it to see what happened, since it was not acknowledged by the Listing Agent/Bank.

If you are not working with a Realtor, I can lookk into the property to see what the status is if you like.

You can contact me at cindiwolf@msn.com or at the number below.

Thank you,

Cindi Wolf
Troth Realtors
661-609-9392
Web Reference: http://www.cindiwolf.com
0 votes Thank Flag Link Sun Mar 1, 2009
Banks have no obligation to accept a short sale offer, although many will, including Countrywide.

The short sale requires approval of both the buyer's offer and the seller's situation, including an evaluation of how much net proceeds the bank will receive from the sale. The short sale listing price is somewhat meaningless - it is the price at which the realtor assumes that buyers will present offers, but it is not a price that the bank has agreed to accept (unless the property has been in escrow before with a different buyer).

Without knowing the timeframes involved, it's hard to know whether the bank has rejected all offers or if the processing time is just slow. Countrywide will typically take anywhere from 30 to 90 days to respond to a short sale offer, so you may just need to be a bit more patient. Have your realtor contact the listing agent to see if there are any updates as to the status - the listing agent can call and find out whether the offer is on the negotiator's desk or whether it has been rejected.

Good luck!
0 votes Thank Flag Link Wed Dec 31, 2008
Hello Jay,

Foreclosures have been on hold the last few weeks due to the holidays -- we should start seeing the banks moving towards foreclosures again soon. If you'd like to provide me with the address, I'll be happy to check and see if a foreclosure is pending, or if there is a price that the bank will accept in a short sale situation.

Tamara Stoebe, REALTOR®, QSC®
Troth REALTORS® GMAC Real Estate
1801 W. Ave. K, Ste. 101
Lancaster, CA 93534
Phone: (661) 466-6849
Fax: (661) 422-3006
E-mail: Tamara@TamaraStoebe.com
http://www.TamaraStoebe.com
0 votes Thank Flag Link Tue Dec 30, 2008
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