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Seven Hills : Real Estate Advice

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  • Local Info1
  • Home Buying3
  • Home Selling0
  • Market Conditions0

Activity 3
Thu Jul 30, 2009
The Kinslow Team answered:
Hi John,

Once the bank has accepted your offer and your earnest money, it should be the same as any other closing. It sounds like you're almost done. Congratulations! I bought my first home in Seven Hills, it's a great neighborhood with an awesome elementary school...Arrowhead. My Son still contacts a couple of his teachers from Arrowhead. You'll be able to walk to a couple of great restaurants and The Movie Tavern.

Enjoy your new home and neighborhood and congratulations on getting through the Short Sale process.

Sandy Kinslow
Coldwell Banker Residential Brokerage
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Mon May 19, 2008
Kathryn Carlson answered:
Greetings Merm: I would ask your Realtor--- all these questions. That is why he/she is getting paid--- to represent you. Bank Owned Properties are sold as is-- unless there are safety issues, etc-- than there will most likely will be--- a credit from the Bank to the Buyer. All the questions you have-- I would write them down-- and ask your Realtor. He/She is there-- to guide you through the home buying process. All the best with your Closing! Kathryn ... more
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Tue Jun 22, 2010
Sylvia Barry, MAS,CIPS,SRES answered:
With the short sale, you almost have to call every single day to make sure things are moving along; and once they accept your offer in writng, they want you to close quickly.

I would go ahead and continue to look for other properties while this is still going on.

If it comes through and you still want the property , great. If not, and if you are protected by a short sale addendum saying that the contract is really not in place unless there is a lender written approval by a prescribed time frame and the lender approved within that certain time period (which does not seem possible from what I read), then you should be able to cancel the contract and go on with the new house you found.

Either way, read your contract carefully to make sure you can get out without losing anything before procedding - eveything is in the fine print. .

Sylvia
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