Posts Tagged ‘offer’

I want to short sale an investment property. the difference between what is owed, and actual value is signifigent, and will lead to bankruptcy.

if we recieve an offer from a potential buyer, can i counter it back to say “subject to: bank not issuing 1099 for the difference”?

FYI – the bank is WAMU.

I have put an offer for a short sale property and the seller will be signing the contract soon. Once this is done what has to be done next.

Can someone put in steps

Up to how much do you think a lender will accept on a short sale offer based on the BPO (Broker Price Opinion)? 70%? 80%?

My fiance and I just put an offer down a week ago for a short sale. We have above asking because this is the house we know we want after looking for so long. We gave a quick close date to make our offer look more attractive. I was wondering how long it takes for the offer to go through Countrywide to find out if it is accepted or if they will counter offer?

We found a home we love that is listed at 199k, it is a short sale. The house was assessed at 183k in 2007. What would be a good initial offer on this house? It is located in Port Washington, WI.

Seller accepted our offer on a short sale. Our offer was nothing more than 5K over the asking price and 20% down.

Seller accepted our offer then a week later came back with the counter offer below:

“We will agree to the ‘best prevailing rates’ at the time of the closing
of the escrow.”

What is the purpose of this counter offer before sending it their lender for approval?

Of course we the buyer would want the best mortgage we could find.

Is there some hidden agenda here?

I am looking to purchase a house that is currently undergoing short sale. The bank is asking $159000. I am looking to put a good faith deposit down and then undergo the appraisal process. How much should I put down as a earnest money deposit?

I live in central NJ with still high real estate market, but plenty of foreclosure and short sale.
There is a house listed for 509k in short sale. It seems to be in good condition in a nice area. So I was wondering how low offer should I put on this house?

I don’t need an exact time-frame just an approximation of an average short sale. As of today it has been 78 days and we have not heard anything from the lender at all?
Ryan B – We know that the offer is not lost, nor have they accepted another as the seller’s agent just talked to the bank this morning. We are just waiting for the lender to get a move on this.

Does anyone know how long take to Citibank to process a short sale offer? My realtor say usually between 6 to 8 weeks and that depend with bank in processing the offer. But she also said she had not previous experience with this specific bank. If anyone does, your information will be appreciated.
Thanks.