I put an offer in Nov got a contract to sign in March, plus deposit, now its a frustrating wait!!!

Asked by Stacy, Blackwood, NJ Fri May 20, 2011

I don't want to give up hope on the house has been listed for almost 2 years, no offers but has been removed from all real estate web listings. But we dont even know if there has been an appraisal ordered the bank the mortgage is through is chase. I'm pre approved through wells-fargo, but cant get any answers from the listing agent regarding the status not even sure if she has even contacted them. How much longer do you think it will be, i mean i think then can still come back after all this time and ask for more money. I know short sales are never a defenit answer but 2 months under contract with no contact seems a bit long?

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Andrew DiBen…, Agent, Sewell, NJ
Thu Jun 26, 2014
Hopefully by now you have received an answer. However, it's not uncommon for the bank to take their time to get an appraiser out to the property to give you a approval on the price you offered. I hope you the best of luck and please don't hesitate to ask any questions you may have.
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Fri Jun 13, 2014
Assuming you are involved in a short sale - they can surely take the starch out of you. It can be frustrating for sure to await the bank's answer on whether they accept your contract. And I have had the same experience you are having - when updates are not available, parties go silent adding to the frustration.

Keep on top of the agents and attorneys if involved. I also recommend to short sale buyers that they keep their out for options because these deals are so uncertain and time consuming.

Good luck to you!
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
Samuel Wolf -…, Agent, Sewell, NJ
Tue Jun 10, 2014
Short sales can be frustrating indeed, However I found though experience, that if you have a great team that WORKS TOGEATHER, the process is a little less stressful. The next time your in need of assistance, give me a call (856) 994-7335 or email me; swolf.therealtor@gmail.com. I have a great group of professionals, including myself, that will guide you through every step of the way!
0 votes
Spirit Messi…, Agent, Tucson, AZ
Fri May 20, 2011
Short Sales can take up to 6 months. Did your agent or Realtor explain this to you up front? Are you using an agent or Realtor? If you find this frustrating, maybe considering looking for a property that is no a Short Sale and is actually available now.
Best of luck.
0 votes
BG, Home Buyer, Phoenix, AZ
Fri May 20, 2011
yeap .. it does seem a bit long after a signed contract.
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