I recently looked at home that i would love to buy. It is a short sale but the listing agent has said it may

Asked by M S, Big Bear Lake, CA Sun Jun 29, 2008

be too late to offer as the bank may have started foreclosure. She stated that it would be relisted with a different realtor as a foreclosure. My question is, if i want this property, what is my next step and it was listed at 599K in an upscale neighborhood (700-1 mill homes), uninhabited for sometime but great location (it has potential value), so what would be a good offer to the bank if i can get in a bid?

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Mr.P, , Arizona
Sun Jun 29, 2008
MS
I would suggest interviewing a few agents who have experience with bank Owned homes, Being that they actually closed escrow on a bank Owned home, ask for references of those buyers. You want to make sure you have a Realtor with experience.
Show them the home you want, they will be able to take it from there.
Have your financing ready, plan for a quick Close.
Good Luck
Patrick
0 votes
Maria Morton, Agent, Kansas City, MO
Sun Jun 29, 2008
If the bank has already started foreclosure proceedings, a short sale may no longer be possible. Get yourself a buyer's agent and write an offer for what it is listed for. The buyer's agent can present the offer and get an answer as to whether or not it's too late. If you act quickly, you may get it. If it goes into foreclosure, it may take much, much longer to go through the process.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more