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Home Buying in 33406 : Real Estate Advice

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Fri Dec 6, 2013
Jim Olive answered:
Pearljam...
Some good advice provided by the other responders...pay close attention to it. B A N K is a four letter word. They are not your friends. They are in it to stick it to you and get as much of your money as they can. A second bank in the mix spells P R O B L E M. It is not uncommon for the second bank to lay back and wait for you and the first bank to duke it out and come to a long-fought-for agreement on price....then they put in their demand for an additional big chunk of change. After all that fighting, you don't want to give up, but you'll have to give the second bank their ransom, or they will not release their lien, and the deal cannot go through. And what is SMART doesn't matter, banks can do the dumbest things! Wish I had a dollar for every time I've heard someone say "why would they do that, that makes no sense??!!".
Now, that said, you can still get a good deal on short sales, but they are fewer and farther between and they don't come without some psychological expense!! Best of luck...
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