|
| Posted By |
Message |
gonzo23456
LIF Infant
Member since 5/08 155 total posts
Name:
Wendi
|
Short Sale
Has anyone heard of a bank wanting to go in contract with someone for a short sale prior to knowing if the bank accepts your offer? It just seems sketchy to us and we dont want to be tied up in a contract that might or might not go through. TIA
|
Posted 9/8/09 8:45 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
snowflake08
Love my boys!!!
Member since 8/07 5148 total posts
Name:
Laura
|
Re: Short Sale
We are in that situation now if I am understanding what you said.
We put in an offer, the bank's attorney accepted it. We signed the contract and so did the sellers. Now we are waiting for the seller's mortgage holder to accept the offer.
|
| Posted 9/8/09 9:31 PM |
| |
|
Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
|
Re: Short Sale
Usually you go into contract with the seller and your offer is contingent on the bank approving the sales price...
We bought a short sale and we made offers on a few of them......our offers were always contingent on the bank approving the offer AND we made sure that the sellers would stop marketing the propery and could not submit any other offers to the bank if the accepted ours - that way we wouldn't have to worry about competition from another buyer....
|
| Posted 9/9/09 9:19 AM |
| |
|
Potentially Related Topics:
Currently 197835 users on the LIFamilies.com Chat
|
