(Closed) Share your Short Sale Stories

posted 9 years ago in Home
Post # 46
Member
101 posts
Blushing bee
  • Wedding: July 2010

The short sale suddenly move very quickly, in fact too quickly!  Both 1st and 2nd lender approved, and they are demanding to close within a month.  I have little time to get finance done.  I am going through a credit union that’s semi-local.  Even I have a all the paper works ready, but a month is really pushing it!  Appraisal takes a awhile right?

I am as anxious as anxious can be now!  Embarassed

Post # 47
Member
1090 posts
Bumble bee
  • Wedding: October 2011

@dada: good luck!! Our appraisal took less than a week- & then it came back with us having to go in and fix some stuff…then had him out again 2 weeks later. Finally got approved last Tuesday and we close tomorrow! Totally doable!

Post # 48
Member
101 posts
Blushing bee
  • Wedding: July 2010

@chittychittybanebane: That’s fabulous!  Is it a short sale?  How long did the whole process take you?

 

Post # 49
Member
1090 posts
Bumble bee
  • Wedding: October 2011

@dada: actually a foreclosure. It was a short sale, but didn’t sell in the spring, hence the foreclosure. Our offer was accepted July 2nd. They gave us a closing date of the 23rd that week and we are closing right on schedule!

Post # 50
Member
299 posts
Helper bee
  • Wedding: January 2011

We heard back from the bank on our short sale offer. We countered back and forth a couple times and now we are both firm… their offer is now about 9k above ours. I hope it works out. We thought of going higher by 3k but we felt like if they don’t accept this, they won’t accept 3k more… so we figured if they do that would be 3k more in our pocket. But I hope it works out.

I have heard a couple times that people were firm and the bank came back and took their offer. They have not declined us yet nor approved so our fingers are certainly crossed!

Post # 51
Member
101 posts
Blushing bee
  • Wedding: July 2010

we closed we closed!  Smile

ahhhhh this kitchen is ours!  (mine! hehe)  it’s the best kitchen we’ve seen out of all the near-downtown condos we visited.

although the mortgage called me on the MORNING of closing saying they can’t approved our 30yr morgage because of my id theft situation at the IRS (not my fault at all), now they wrote  me as an 5/1 ARM and will refi us after that has been straighten out..  so a little bummer that there’s a tail to it.  You can guessed that I flip because the first thing that guy told me on the morning of closing is that they “can’t close on our 30yrs loan”.. !!  well now at least we closed. 🙂

Post # 53
Member
1444 posts
Bumble bee
  • Wedding: May 2014 - Paradise Gardens

I love all the updates! Keep them coming!

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