my realtor worked hard to find out if a bank would take my home buyer offer. later when bank wanted more money from the buyer for this shortsale, the buyer backed off and ran away. i couldn't make mortg. pymt since april, and my agent was working to get this shortsale happen.
now, this buyer, he actually offered $2,5000 more than what the market price was. i had to take that opportunity.
my agent encouraged me to put it up on a market again for sale... yet the buyer said, most likely home will be 'foreclosed' even we tried. do u think it will, too? looks like im not allowed to as my agent is working on behalf to contact the banks.
2007-08-30 09:26:01 · 4 answers · asked by h 2 in Business & Finance ➔ Renting & Real Estate
What do you have to lose by putting it back on the market? As long as you have the appropriate language in any offer/counteroffer, you should be protected and can move on with other prospective buyers.
No one can know what your lender/bank will do as far a foreclosure....it would all be speculation at best.
2007-08-30 10:12:52 · answer #1 · answered by liveinaustin 3 · 0⤊ 0⤋
Each company is different. Some foreclose faster than others. I would try it, but I do not think there is a bank that will finance a house more than the fair market value, so you should make sure that the buy has the extra cash lined up in case the bank will only finance the FMV.
2007-08-30 09:37:39 · answer #2 · answered by Cali Girl 3 · 0⤊ 0⤋
Keep trying. Banks don't want to own houses. They will foreclose on the people who are doing nothing to resolve the problem. They will give some time to those that are trying.
It aint over 'till it's over.
2007-08-30 16:34:51 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
I think I would call the lender back and work up the chain of command. Or call Washington DC and scream and yell about what they did. These lenders should be held to task.
2007-08-30 09:31:12 · answer #4 · answered by Alterfemego 7 · 0⤊ 1⤋