| Posted By |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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7/29 Bumping for Update!
**7/29 UPDATE**
We got a call sayng that the negotiator at the bank advised the sellers to sign off on our counter-offer!! The negotiator at the bank thinks our offer is good to go - once the seller's sign we'll be in contract contingent on the final approval from the bank. Turn-around time for final approval from the bank will probably be 1 week. The negotiator basically says if the offer is good or not and now it just has to be signed off on....
We might be headed down for inspection next week - and we are set to close within 30 days from bank approval - so we could potentially be closing the first week of September! Holy Moses!  
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We got a verbal counter from the bank today on the short sale we put an offer on....
Did anyone ever have this situation with a short sale?
We want to counter back and meet exactly in the middle of our offer and their counter-offer - which would mean we go up $4,500 and they come down $4,500....
I'm really nervous!!!! We're waiting for our agent to call us back - we haven't spoken to her about the counter yet, she left us a message telling us about what the bank said.....
Please say a prayer for us!!
Message edited 7/29/2009 12:05:13 PM.
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Posted 7/24/09 2:27 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: Bank Counter-offered!
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| Posted 7/24/09 2:32 PM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: Bank Counter-offered!
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| Posted 7/24/09 2:40 PM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: Bank Counter-offered!
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| Posted 7/24/09 2:49 PM |
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mandasue
LIF Adolescent
Member since 3/09 772 total posts
Name:
Amanda
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Re: Bank Counter-offered!
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| Posted 7/24/09 2:50 PM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: Bank Counter-offered!
Ok, we submitted a counter-offer!!!
We went over the new offer amount with our mortgage broker and it looks like worst case scenario mortgage payment for us would be $1,309 and the best case would be $1,218 (we over estimated taxes and insurance to come up with the $1,309 - a more realistic payment would be $1,218)....
How F'ing AMAZING would that be to have a mortgage payment like that  We can't even rent a 2 bedroom for that up here!!
So basically we are waiting for the negotiator at the bank to take a look at our counter - our agent is surprised they didn't take our initial offer, hopefully they are just trying to squeeze a few more dollars out of us and they will accept the counter. If the negotiator signs off on it, it will go up the chain for final approval at the bank.
The process with this bank is SO MUCH different than with big name banks. When we dealt with Wells Fargo and SunTrust it was bananas! It's been less than a week and we already made progress.
Ugh I really hope we get it!! 
I have to be honest though, I am getting REALLY nervous!! The thought of having to rush down for an inspection and then again to close is freaking me out - we have so many things scheduled for the next 2 months - between business trips and parties and not having anyone to dog sit while we are away! I'm getting a little stressed!
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| Posted 7/24/09 4:27 PM |
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HLT407
So lucky
Member since 11/07 1910 total posts
Name:
Heather
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Re: Bank Counter-offered!
Good luck! I purchased a short sale & it was beyond stressful but was absolutely worth it
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| Posted 7/24/09 4:29 PM |
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CoutureMaMa
nicholas is one!!
Member since 9/07 6081 total posts
Name:
Michelle
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Re: Bank Counter-offered!
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| Posted 7/24/09 6:07 PM |
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mikeandjess
LIF Adult
Member since 10/07 2278 total posts
Name:
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Re: Bank Counter-offered!
Good luck, nicole! 
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| Posted 7/24/09 9:48 PM |
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chrisnjoe8108
He's 1!
Member since 8/08 5649 total posts
Name:
Chris
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Re: Bank Counter-offered!
Good Luck!!
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| Posted 7/25/09 7:35 AM |
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MrsUta
LIF Adolescent
Member since 2/08 771 total posts
Name:
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Re: Bank Counter-offered!
Good luck!!!!
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| Posted 7/25/09 7:43 AM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: 7/29 Bumping for Update!
bumping for update @ top!
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| Posted 7/29/09 12:05 PM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: 7/29 Bumping for Update!
that is great to hear Nik! I'm for you & DH!
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| Posted 7/29/09 2:58 PM |
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mandasue
LIF Adolescent
Member since 3/09 772 total posts
Name:
Amanda
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Re: 7/29 Bumping for Update!
YAY!!!!!!!
Message edited 7/29/2009 3:03:18 PM.
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| Posted 7/29/09 3:02 PM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: 7/29 Bumping for Update!
i am praying!
the realtors are under the impression that we totally got it - this bank is a small local bank so they handle short sales a little differently than the big banks - and from our past experience this is going a lot smoother than when we dealt with wells fargo for a short sale - that was torture and in the end there was no deal....
with this bank the negotiator basically gets it to a price so that the bank can sign off on it....so it's really just waiting for paperwork to get signed - but i'm still really nervous - until we get the final approval letter i don't want to get my hopes up too much....
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| Posted 7/29/09 3:08 PM |
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MrsUta
LIF Adolescent
Member since 2/08 771 total posts
Name:
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Re: 7/29 Bumping for Update!
So glad it is working out to your favor!!
Good luck!
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| Posted 7/29/09 3:12 PM |
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mrsdukes
LIF Adult
Member since 1/09 943 total posts
Name:
Liz
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Re: 7/29 Bumping for Update!
Sounds promising!!! Good luck!
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| Posted 7/29/09 4:35 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: 7/29 Bumping for Update!
Great update, that is so exciting!!!!
Posted by Nik211
We went over the new offer amount with our mortgage broker and it looks like worst case scenario mortgage payment for us would be $1,309 and the best case would be $1,218 (we over estimated taxes and insurance to come up with the $1,309 - a more realistic payment would be $1,218)....
How F'ing AMAZING would that be to have a mortgage payment like that We can't even rent a 2 bedroom for that up here!!
Yea it's ridiculous how low our mortgage/taxes/homeowners is! All that combined is less than our 1-bedroom apartment rental on LI was when we lived there.  Gotta love FL!
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| Posted 7/29/09 4:45 PM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name:
Jackie
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Re: 7/29 Bumping for Update!
Great news, congrats!
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| Posted 7/29/09 5:33 PM |
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Coley
LIF Adolescent
Member since 6/09 546 total posts
Name:
N
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Re: 7/29 Bumping for Update!
 Hope all goes well! Congrats!
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| Posted 7/29/09 5:46 PM |
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