I have checked on zillow.com and the estimate of that home is around 339K. Sold for 550k in '05 during its peak. Home around the area recently sold from 280k-340k. As a first time home buyer I have read up alot on whats out there as well as short sale. The gruesome process that is. The listing agent also said that they are in contact with the asset manager of the lender so the short sale process should be quicker that its known to be. But still x-ing my fingers,
My fiance and I have been together for 10+ years now, been living together for 4+ years. So hopefully this wont be a problem.
My concern is that if we have the money and great credit scores, with the bid we made, the worst thing I am hoping for (with 2 offers submitted to the bank including ours) is a counter offer rather than them telling us your offer was not good enough. So the waiting game starts. - Sun Jun 22 2008, 12:33
Is there such a thing as a primary offer and secondary offer in a multiple offer situation? - Sun Jun 22 2008, 09:00
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.