Skip to main content

Short sale question

So I am so confused. I know banks have to approve a short sale offer. I have that all done and we are at the closing stage of the process. We signed all our documents and the “owner” not the bank signed his documents as well. Well I got a call that now the title company said they are waiting for the bank to approve the transaction. Long story short they approved our offer and we got an inspection done. The inspector found some minor things so we asked if they would price reduce not getting hopes up as we understand a lot of the time it is a as is property. We all agreed we would keep it as is due to if they do take a new price it would start the offer process over again. We got our appraisal done and as soon as that was done we got a call they want to do another appraisal as well and the appraiser wants to see the inspection report. We sent it. We get the call everything is at the title company and we need to hurry and sign as well would close the next day. Well next day comes and I get a text “the bank is waiting for their appraisal to come back we should be fine”. Should I have any reason to be concerned ?

submitted by /u/Moist-Delay-2617
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1eboejz/short_sale_question/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more