i have researched a specific property, been approved on a loan for it, put in a contract-no reposonse, how can i make sure it was sent on to deutche

Asked by Tigger, Plantation, FL Sun Jan 16, 2011

property been empty & on mls for almost a year, has violations I can fix easy. spent 3 months trying to buy house. Wonder if REO has sent contract in. I WANT this house. Any suggestions?

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9
Meir Aloni, Agent, Plantation, FL
Mon Sep 24, 2012
Check with the listing agent' Broker to see if the offered was presented and when; IF it wasn't, why not?
0 votes
Alma Kee, Agent, Tampa, FL
Thu Aug 9, 2012
Sounds like you were actually talking about a SHORT SALE, NOT an REO.

Did you get the house?

Was it actually a pre-foreclosure Short Sale?

Did you buy another house? You posted this way back in Jan of 2011!
0 votes
Adell Forbes, Agent, Atlanta, GA
Mon Jan 31, 2011
Hello Tigger,

If you're working with a Real Estate Agent they should be able to provide not only answers to your questions, but detailed answers. If the house you "offered" on is a HUD home you can create a profile on HUD's website and check the status of your bid.

Also; when dealing with foreclosures or short sales it takes a much longer time to get a response from the lender than with non-forclosed homes.

The only suggestion I have at this point is to follow up with your Realtor; if you don't have a Realtor; I will be happy to provide you a complimentary service and follow up on this for you.

Kindest Regards,

Adell
0 votes
Susan J Penn,…, Agent, Weston, FL
Sun Jan 30, 2011
Dear Tigger,

Some properties with violations are only considered with cash buyers. Having a mortgage is not enough in certain cases. this home may not fit the requirements for a mortgage. You should call the agent you are working with and find out where your offer is.

Susan Penn, PA, SFR
2000 Main Street
Weston, Fl 33326
954-557-5993
0 votes
Ann Forman, , Broward County, FL
Sun Jan 16, 2011
Hi

It would all depend on how the property was put on the market and if you were working with an agent to present the offer. If you have an agent then they should be able to find out if the offer went to the seller If you sent in the offer directly then you would have to make contact with the person or company that you sent the offer through. How long ago did you submitt offer sometimes it takes a week or two to get an answer. If its been months and its an REO property something is worng. If its a short sale that another story they take longer to get an answer.

I am an agent in the Plantation area and specialize in foreclosure and short sales and would be glad to discuss this problem further with you and try to help if you are not already working with an agent
0 votes
Alma Kee, Agent, Tampa, FL
Sun Jan 16, 2011
Hi Tigger,

ls your mortgage approval a conventional mortgage with at least 20% down?

It's possible the asset manager for DeutscheBanc is only considering ALL CASH offers if the property has serious condition issues that will prevent most lenders from granting a mortgage on it. Ask your Realtor to contact the listing agent to verify.

Your alternative option is to get an FHA 203K Streamline if the repairs are not structural in nature and will cost less than $35k. Wells Fargo is your best choice for this. You will need your "preapproval" letter to specifically state it is for an FHA 203K S so the asset manager will take your offer seriously. You can get a 203K S form a mortgage broker but you take the risk of the mortgage broker going through someone other than Wells Fargo and you may end up in a nightmare situation trying to get those lenders to pay your contractors.

Hope this helps.
Alma
0 votes
Mark Doring, Agent, Coconut Creek, FL
Sun Jan 16, 2011
as an agent who works in Plantation and is a member of the local Realtor board, I can do a little more research on the property. If you can email me the address or MLS# I will take a look and find out what I can.
0 votes
Mark Doring, Agent, Coconut Creek, FL
Sun Jan 16, 2011
How long ago did you send in the contract? Not unusual for responses from banks to take anywhere from 3-10 business days, sometimes longer. Strange considering that the home has been on MLS for over a year. Asset managers will usually not allow one realtor to hold a listing of one of their properties for that length of time. Which makes me wonder if the listing agent still has a listing right to the home and might be trying to go to asset manager with the offer. Did you use a buyers agent? If so, ask the agent to get a letter from the listing agent specifying that he has received the offer and forwarded it to the banks asset manager.
0 votes
Sally Grenier, Agent, Boulder, CO
Sun Jan 16, 2011
Do you have a Realtor working for you? No one here on Trulia is going to help you determine if that bank received your offer or not. If you don't have a Realtor, find one. As a buyer, it doesn't cost you anything to be represented by a Buyer's Agent. If you need the name of someone in your area, let me know.

Sally
sally.grenier@coloradohomes.com
Web Reference:  http://www.sallygrenier.com
0 votes
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