Withdraw Short Sale All Locations : Nationwide Real Estate Advice

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Linda S. Cef…, Real Estate Pro in Franklin, WI
Linda S. Cefalu answered:
What is a reasonable amount of time to expect a bank to respond to a bid on a short sale?
The answer lies in the purchase contract that you signed. Do you have a binding acceptance date? Are you working with an agent?

One month is not an unusual amount of time to pass ... more
0 votes Share Flag Fri Jul 26, 2013 Home Buying in 28465
Joe Cusumano, Real Estate Pro in Riverside, CA
Joe Cusumano answered:
Is it wrong to end your professional relationship with your agent after you have given him a year to sell your house and then to switch to a new?
It depends on why it has not sold it but if the listing is up and you don't like the plan he put together then go make the move. That is why lisitng agreements have end date. It do ... more
0 votes Share Flag Sun Mar 25, 2012 Home Selling in Seal Beach
Cathy Sloan, Real Estate Pro in Jacksonville, FL
Cathy Sloan answered:
what kind of issues would cause a loan office to retrieve a loan after a pre approval amount has been issued?
You are waiting on the bank to verify that teh current owners financial data supports that they have a financial hardship and qualify to short sell.

Once the seller is qualified, t ... more
0 votes Share Flag Sat Aug 13, 2011 Home Buying in Newark
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Is it best to do an inspection before making an offer under these circumstances?
You may certainly have an Inspection done before you make an OFFER:
You would have to request this with the Seller, through his Agent.

I have seen these General Inspections run $300 ... more
0 votes Share Flag Wed Oct 26, 2011 Home Buying in West Haven
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
we want to use some of our 401k $ for down payment, we are first time buyers in our 50's. good idea?

Check with your accountant for the reasons why it's not a good idea.
0 votes Share Flag Sat May 9, 2015 Home Buying in 95405
Danielle Sha…, Real Estate Pro in Cape Coral, FL
Danielle Sharp answered:
1st BPO came 30% over mkt 2nd BPO done 10 days agoNegotiator does not tell new BPO price and wants the full price of first BPO What should I do?
BPO's are typically only good for 90 days when the data becomes considered out-dated. Most negotiators will not share BPO result either - the offer either meets their net proceeds ... more
0 votes Share Flag Mon Aug 15, 2011 Home Buying in Miami
Sergio Herna…,  in Naples, FL
Sergio Hernandez answered:
Is there any recourse for a buyer if a bank delays closing on a bank owned home?
Starting over will likely extend the waiting time.

Stay on top of it and keep pressing for answers.
0 votes Share Flag Thu Jul 28, 2011 Home Buying in New Hampshire
Jody Jones, Real Estate Pro in Elkhart, IN
Jody Jones answered:
Well it has been 45 days since we accepted the counter from the bank on a short sale home and still no word r ...
Yes its tough, especially so since you are dealing with Bank of America.

If your Realtor is not giving you information its probably because she hasnt been given any information by th ... more
0 votes Share Flag Mon Jul 11, 2011 Home Buying in 46619
Kevin Clouti…, Real Estate Pro in Cape Coral, FL
Kevin Cloutier answered:
I was told that a FAR/BAR contract default financing contingency is 30 calendar day and a FAR contract is 30 business days.
You can put anything you need to in a contract to clarify.
You should have had an agent on your side. It's what we are schooled on and practice.
Not trying to be mean, but it ... more
0 votes Share Flag Thu Sep 22, 2011 Home Buying in Sarasota
John Juarez, Real Estate Pro in Fremont, CA
John Juarez answered:
We have just recieved an approved price on a short sale we are interested in, but now the seller wants us ...
I suspect from the bad advice that you are getting that you are using the sellers agent as your agent. The advice of the agent is only benefitting the seller and is not in your best int ... more
0 votes Share Flag Wed Nov 30, 2011 Home Buying in Salt Lake City
Cathy Lynch, Real Estate Pro in Mooresville, NC
Cathy Lynch answered:
Can you withdraw a bid during the 30 -45 day wait for a bank response? Is a response a firm yes, no or co ...
It depends ! Is this a short sale if so did you sign a short sale addendum ? If not a short sale and a bank owned property , then if you are not under a signed contract ( one that has ... more
0 votes Share Flag Thu May 17, 2012 Home Buying in Concord
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
if i only have a verbal acceptance on a short sale as the buyer, can i rescind without losing earnest m ...
Hi Deonsvans,

Real estate contract have to be in writing to be legally binding. If all parties have not signed the contract yet, have your Realtor do a Withdrawl of Offer to cancel ... more
0 votes Share Flag Wed Jan 2, 2013 Home Buying in Merrillville
Stressed Out, Home Buyer in Albany, GA
Stressed Out answered:
In a nightmare buying a fannie mae homepath home...they accepted our offer but aren't getting the contract to us in a timely fashion...using a
also note that we are first time home buyers and if any of the above isn't worded clearly, I apologize as we are new at this and trying to understand the terminology.
0 votes Share Flag Sun Jun 5, 2016 Home Buying in Georgia
Gail Gladsto…, Real Estate Pro in 11743, NY
Gail Gladstone answered:
how long does a shortsale offer take?
Unfortunately, we are dependent on the banks and there is no way to predict. V

My recommendation is you go into full contract with the seller and submit your contract and down paymen ... more
0 votes Share Flag Mon May 23, 2011 Home Buying in 10512
Michele Lane,  in San Jose, CA
Michele Lane answered:
Can I back out from short sale after I made offer and deposited 2 months ago?
This is a good time to talk to your Realtor. It is not when you wrote the offer it is when your contingency time periods are up. Has the lender approved the sale? If not, you should be ... more
0 votes Share Flag Tue Aug 14, 2012 Home Buying in 95121
Michael Emery,  in Minneapolis, MN
Michael Emery answered:
How can I get out of a short sale out of state?
If the bank has only orally agreed to the sale and they have not agreed to the sale in writing (signatures) then you should be able to do a cancellation of the sale. I'm not sure o ... more
0 votes Share Flag Wed May 18, 2011 Home Buying in Port Charlotte
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
what does "withdrawn" mean?
Hi Sandra,

If you are asking what it means when a listing is withdrawn, that means the property is no longer for sale. It cannot be listed with a different Realtor until the listing ... more
0 votes Share Flag Wed Nov 30, 2011 Home Buying in Oroville
Anotherannab…, Home Buyer in Encinitas, CA
Anotherannabanana answered:
Questions about a probate sale! I've read in several places that putting in the first offer on a probate ...
More details: the house has owned by same person since the 60s, so no mortgage money due on it, and it was last assesses at $20,000 - so they are not going to take a loss no matter what ... more
0 votes Share Flag Sun Jun 12, 2011 Home Buying in San Diego
Michelle De…, Real Estate Pro in Tucson, AZ
Michelle De Leon, MBA answered:
What is the difference between active CAPA and active contingent? A home that we have a cash backup offer on has changed its status to active cont.
In the Tucson MLS system, "Active Contingent" usually means that the contingency is the inspection period. An agent usually changes from "Active CAPA" (usually means ... more
0 votes Share Flag Wed May 11, 2011 Home Buying in Tucson
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
Another offer was accepted..
What is your agent advising...short sales are by no means fast sales, and a back up offer is just that, therefore if you would like to see other properties, no reason not to; again, you ... more
0 votes Share Flag Sun May 15, 2011 Home Buying in Rancho Cucamonga
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