Home Buying in Merrimack>Question Details

Victoria, Other/Just Looking in 03102

We fell in love w/ a short sale... is it unreasonable in this market to put in an offer if we don't have an offer on our home? I know S/S take

Asked by Victoria, 03102 Thu Nov 3, 2011

4ever

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Ron Thomas’ answer
Relax,
you would plenty of flexibility and time.

Seriously, to do the Shortsale and Sell your home; you should be using a Realtor, who can being doing both for you. I wish I were there to help you.

Good luck and may God bless
0 votes Thank Flag Link Sat Nov 5, 2011
Victoria you can put in an offer however you should note that most short sales require you to close within 30 days of approval. It is alot of time and work to go through the short sale process. If you put the seller and agent through the process which takes time and money, you need to be ready to close. Many agents would not take an offer on a short sale with a home sale contingincy.

http://www.trulia.com/blog/scott_godzyk/2010/10/so_you_want_…

Please see my blog with tips and advice on buying a short sale.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Nov 5, 2011
Pretty unreasonable at this time is a proper analogy!
0 votes Thank Flag Link Thu Nov 3, 2011
A short sale takes a long time. If you can qualify for a loan on this home, put an offer in. Then put you home on the market subject to getting a replacement home (your short sale) then if you get an offer, they will have to wait for the short sale to be complete. Never get a bridge loan. This is not a market that you should over extend your self like that. You could end up with two payments and have to short your home yourself
0 votes Thank Flag Link Thu Nov 3, 2011
You can put an offer and get the bridge mortgage.Good luck
0 votes Thank Flag Link Thu Nov 3, 2011
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