Post # 1
I am going nuts! We put an offer on a foreclosure, everything was going great, until the bank suddenly decided they didn’t want to foreclose and do something else… not sure what that something else could be but okay. So, we found a new house that we LOVE. I mean, it is our dream house. Not too big but has everything we want and enough excuses for me to rip up the carpet and put in wood laminate and tile. lol. Mr. Hedgie isn’t thrilled about that part but I am! But we have been waiting to hear back from the bank of the inspectors for over a month and a half now and as to whether they will accept the offer or counter. Short sales suck. So, we went back out. Found 3 new possibilities. Likes them all. Put down bids and offers on all of them. Not one got accepted. We aren’t offering too low either. We are offering asking price or, if there is enough reason to, 5 K under. (some of these have entire carpets that are destroyed and they didn’t price them to account for that). I am just so discouraged. We still are under sontract with the short sale we love but our hopes are diminishing by the day. I found two more houses I would love. A HUD home (which means a frustrating bidding process where you practically have to bid 15 K over just to getthe darn house) and another short sale. I am wary of that one because of what we have seen with this other one. My realtor assures me it isn’t often banks drag their feet like this with zero communication but it obviously does happen and to go into this short sale open minded.
I just feel like we can’t win. I wanted to be in a house by July. Our contract with our realtor is up on our anniversary in July, if we haven’t found a house by then. If that happend I will murder a seller or bank worker, and then find another realtor because I am DETERMINED to find a house damnit! I am just so… discouraged, frustrated, feeling hopeless. We have seen over 250 houses and only a handful have I wanted. I feel like I am being too picky but I don’t want to end up in a house I hate or just kinda feel meh about. I want to LOVE our house.
Anybody else who has gone through this “head on wall pounding” process, advice? I could sure use some right about now.
Post # 3
I don’t really have a ton of advice but we’ve gone through a very frustrating process. We put in our offer on a short sale in mid-January. The sellers then took almost two weeks to respond because they were hoping for a better offer. It’ll have been two weeks ago Friday that the original bank accepted the offer and sent it to the investor (again, the sellers took about a week and a half to sign the adjusted offer). The investor can take anywhere from two to six weeks from what we were told and then we have to do the closing process. So we’re definitely frustrated.
It only adds to the frustration that I’ll be 31 weeks pregnant on Saturday. Worst case scenario, if the investor takes the full six weeks and we need four weeks to close (hopefully we can get it down to three with the bank and our cooperation), then I’ll be 39 weeks when we close. So I definitely understand the frustration but it looks like it’ll be worth it in the end (especially since it looks like we may get it for $28,000 less than asking with all of closing included).
Post # 4
Hedgehog, I hear you. While not quite as frustrating as your situation (man I feel bad for the bank people that are soon to be murdered…), my Fiance and I are moving halfway across the country for work. We were told we’re being transferred last week…and are expected to buy a home and move before July 1. It’s more than a little bit scary and the banks so far have be unresponsive when I try to nail down details. Throw in the fact that we need to sell our current house before we can put a down payment on another one and I’m almost ready to kill someone too!
My best advice is to keep track of all the paperwork and respond as soon as anyone contacts you (bank, realtor, etc). If they don’t respond by the end of the day, call repeatedly until you speak with the person you’re trying to work with. Sometimes people who handle 50 mortgages/house selling/etc every day forget that we only do it once every few years and sometimes they need a little reminder that you’re on pins and needles waiting for responses!!
Good luck honey!
Post # 5
Also, does your agent call regularly to ask for updates? Our agent would give us updates when he could (he called the selling agent often to talk about it) and if we were getting antsy, we’d shoot him an email and he would call for another update even if he had just given us one. He has done a really good job staying on top of them and we’ve stayed on top of him too so we can get some sort of update. Once someone at the bank is assigned the file it’ll be easier to get updates (it took a little while for us to get to that point).
Post # 6
@mandb122: He does but the bank has gone completely silent. I mean, wont even respond to messages PERIOD.