close
    short sale homes in az. rules and regulations

    when a home is on a multiple listing for a price and you make a bid for more than the listed price and have earnist money in escrole can the price be changed for more than the offer ??

    0  Views: 209 Answers: 1 Posted: 13 years ago

    1 Answer

    I hope you aren't forgetting that the listed price on a short sale is what the sellers are hoping the bank will be happy with in order for them to avoid a forclosure - it is not necessarily what the bank would ask for the property if it were a foreclosure. In other words even if you have offered more than what the sellers are asking for their house, the bank can still refuse to allow the sale for that price and ask for more money. In most cases that money must come out of your pockets as the sellers don't have it.

    Talk to any real estate broker or agent - Short Sales are a nightmare to all concerned except the bank. Not only is there the issue over is the offered price high enough to satisfy the bank - but the bank has no deadlines to answer back to the purchaser, they can take as much time as they want and there is no recourse for the purchaser. Sometimes they choose not to answer back on an offer at all - how fair is that to the person wanting to buy the house! Nothing they can do about it.


    Top contributors in Renting & Real Estate category

     
    country bumpkin
    Answers: 49 / Questions: 0
    Karma: 3060
     
    ROMOS
    Answers: 54 / Questions: 0
    Karma: 2805
     
    Colleen
    Answers: 138 / Questions: 0
    Karma: 2565
     
    Ducky
    Answers: 33 / Questions: 0
    Karma: 2055
    > Top contributors chart

    Unanswered Questions

    Today Show KZK Jewelry
    Answers: 0 Views: 17 Rating: 0
    dangnhapw882025
    Answers: 0 Views: 19 Rating: 0
    ANTAMWIN
    Answers: 0 Views: 16 Rating: 0
    keolivenet
    Answers: 0 Views: 14 Rating: 0
    Latest Dubai jobs
    Answers: 0 Views: 17 Rating: 0
    u888cluborg
    Answers: 0 Views: 17 Rating: 0
    VN88
    Answers: 0 Views: 12 Rating: 0
    > More questions...
    477384
    questions
    723485
    answers
    803290
    users