(Closed) Don't know what to do…

posted 6 years ago in Home
Post # 3
Member
183 posts
Blushing bee

Coming from another realtors point of view…there really isn’t much you can do other than wait! Just keep getting your realtor to bug them lol

Post # 4
Member
1352 posts
Bumble bee
  • Wedding: April 2012

I got my loft in a short sale like 5 months after I had put the offer in… just keep your fingers crossed… the wait is well worth it!!

Post # 5
Member
3671 posts
Sugar bee
  • Wedding: March 2011

We’re almost to five months waiting on our short sale.  It should be approved soon but it’s been really hard waiting, especially since we’re at the end investor and they had it for three to four weeks before asking for another document from the seller.  We’re trying to get it done soon too because of the baby that could theoretically come any day now.

Is it possible for you to go look at it again though?  We were getting impatient and asked if we could just go see it again.  We went yesterday and were reminded of why we loved it enough to put in an offer on it.  We also took more time and were more critical.  In the end though, it helped us realize that we’ve waited almost five months and a few more weeks is worth it. 

Post # 6
Member
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

It’s a short sale. Your only options are to keep waiting or withdraw your offer and move on, provided you are beyond your contracted waiting period. If there is really absolutely nothing else on the market that you are remotely interested in, then there’s no harm in waiting. But if there is anything that is a “maybe”, go see it. I don’t understand your comment about your realtor refusing to take you on any more showings. That is completely inappropriate. You are the client. The realtor’s job is to show you houses. He/she does not get to decide when you are “allowed” to go see another house.

FWIW, we lost the short sale that we waited on, and it was the best thing in the world for us. If we hadn’t been stuck in short sale purgatory we would have probably settled on another house that was “okay” just so we could be done with the whole process. But we were stuck in a holding pattern for months before we ended up with a $50k difference of opinion over the value of the short sale. We walked away from that deal with a huge smile because the perfect house had just come on the market mere days before our short sale contract was set to expire. We offered on that new house as soon as we could get out of the short sale contract, and we are all set to settle on Friday. I am generally not one to believe in fate, but this was meant to be our home. We just had to be patient until this home was ready for us, and the torture of the short sale process forced us to be patient.

Post # 8
Member
13099 posts
Honey Beekeeper
  • Wedding: July 2010

I want to say that the short sale my parents bought took 7 or 8 months.  That is how short sales go sometimes and unfortuantely there is nothing you can do but wait (or withdraw and be done with it).

That thing with your realtor is crap though.  It is his job to show you houses and if you want to see more, he should absolutely take you.

Post # 11
Member
2819 posts
Sugar bee
  • Wedding: February 2013

OK, so I’m from Canada & have NO idea what a short sale is, but…isn’t is a complete misnomer? Couldn’t they have come up with a better name? Jeez.

(Or is it that the bank looses money & comes up “short”? ‘Cause my first impression was that it was supposed to take a “short” time to turn over!)

Post # 13
Member
3671 posts
Sugar bee
  • Wedding: March 2011

@Mrs Hedgehog:  I more so meant could you go look at the house you’re waiting on again.  It kind of made it exciting again for us to go look at it even though we are still really tired of waiting. 

Post # 15
Member
2815 posts
Sugar bee
  • Wedding: March 2012

@Mrs Hedgehog:  Perhaps you should find a new realtor.  I’ve never heard of one acting the way yours is.  Keep your chin up.  Short sales take a LONG time.  It’ll be worth it in the end.  🙂

Post # 16
Member
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

@Mrs Hedgehog:  Oh honey, I just want to hug you and tell you it will all work out exactly the way it is supposed to. If the short sale just doesn’t work for you, you will find something else that will be even better.

Now on this realtor thing…. it’s just… weird. Maybe it’s a Texas thing and it’s totally the norm, but I’ve never heard of such a thing here in Maryland. No realtor here would tell you that you have to wait 4 months after the buyer’s agent contract expires before they will take you on as a client again. Like I said, maybe it is normal in your area for this to happen, and other Bees from the area are free to clue me in. But from my perspective, by imposing this 4 month waiting period your realtor is not serving you as well as he/she could.

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