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Maquoketa : Real Estate Advice

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  • Home Buying1
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Activity 3
Mon Aug 16, 2010
Jacjo asked:
Thu Mar 12, 2009
Raylene Lewis answered:
The previous bid would not speed things up. It sounds to me like you are trying to negotiate the sale PRE-FORCLOSURE as a SHORT SALE. If that is the case, you should hear acceptance by the Sellers in two or three days at most and acceptance from the bank in 2 weeks at most. If the property is beyond the short Sale and is in Forclosure, then you really have a waiting game on your hands. The people who accept these offers are a type of comittee that have many properties on their desk and don't really care how long they take getting to your offer. THis can be a big problem. If the home has not forclosed yet, but no short sales were agreed to, it could take any where from 4 to 12+ months to have the home ready to put back on the market with clear title to sell. If that happens you would have to simply offer again on the home when it came back on forclosure or went to auction. I would make sure your Realtor has lots of previous experience with Short Sales and Forclosures. These are tricky deals that you really have to stay on top of and agressively push through. Good Luck to You and Happy home Buying! ... more
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