(Closed) Short sale nightmare

posted 7 years ago in Home
Post # 3
Member
466 posts
Helper bee
  • Wedding: April 2011 - Sweet ceremony by the sea and sunset celebration on the North Shore of Hawaii

oh dear, i’m so sorry you have to go through this. i don’t have any experience with short sales but i do think that if it’s becoming too complicated, maybe this house isn’t meant to be? either way, sending lots of happy thoughts your way!

Post # 4
Member
2008 posts
Buzzing bee
  • Wedding: September 2009

Ugh.  Not fun.  We bought a short sale but it wasn’t overly traumatic for the most part.  Though oh my goodness does it take forever!  We submitted our offer before Thanksgiving and didn’t close until March.  

I would suggest finding your own agent and working through them.  Typically (at least for us), the seller’s agent splits their commission with the buyer’s agent to cover their fee.  I don’t remember having to pay for the electricity to be turned back on for the inspection.  Maybe our realtor cover that for us?  Or maybe he got the bank to pay (that sounds more familiar.)  Either way, I’d recommend getting someone that will have your back and ONLY your back.  (And that can’t be fired by the seller.)  

Also, we lost out on the first home we offered on and were sad about it for a bit but it turned out to be a huge blessing in disguise.  That home wouldn’t have worked with the twists our lives took 6 months after we would have bought it.  Don’t be afraid to walk if things start feel less than 100% right.  The right place will come along.

Post # 6
Hostess
18646 posts
Honey Beekeeper
  • Wedding: June 2009

I’m sorry it’s so stressful.  I’m not completely sure but I think that the owner can make a counteroffer on the offer first and then they bring the deal to the bank that holds their loan.  Maybe I’m impatient but I always think of walking in situations like this.  If the people don’t want my money, I don’t want to give it to them.

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