Asked by Captainobvvious, 02864 • Tue Dec 20, 2011
I have submitted an offer on a short sale that is at or close to fair market value... I am the only offer and am locked in for a term to prevent them from submitting a back up offer to the bank for as long as I keep myself locked in.
When I first looked at the house the BPO had already been there and they already have a short sale negotiator assigned to the case but they do have two liens on the property. They told me if I offered $10k more it would completely satisfy one lien holder so they can't owe that much.
My question is in two parts:
1. Considering what I have shared do you think it will take 6 months to close on this house?
2. The sellers have asked that I agree to let them rent back the property and stay there until June of 2012 until their kids graduate. I wonder if their agent thinks it wont take AS long to close and if it does close relatively fast I am stuck with a home I own and tenants for 4 months.... Do you think that is reasonable for me to agree to?
Real Estate in Cumberland
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