First time home buyer, some observations.

[jpinpb]

[quote=SD Realtor]I would challenge ANYBODY here to show me a case where a deposit was made on a short sale and they did not get the deposit back from escrow if they changed their mind during the approval process.[/quote]

I’ve made offers on short sales. Gotten deposits back and sometimes checks were never even cashed. Don’t be hesitant to make an offer on a short sale you like. If you’re patient, you actually have a chance. I was the one that backed out of the ones I made offers on. I think I could’ve gotten them if I wanted, but other opportunities presented.

[sdrealtor]

Problem with new construction is the developer usually just gives them the standard sq footage for each model. For example, my house standard was 4/3 with 3 car and about 2500 sq ft. I got the 3rd car tandem as a downstairs BR option from the builder which made it closer to 2700 sq ft. Assessors records say 4 BR when it has 5BR’s and the sq footage is off by about 200 sq ft.

[sdrealtor]

Problem with new construction is the developer usually just gives them the standard sq footage for each model. For example, my house standard was 4/3 with 3 car and about 2500 sq ft. I got the 3rd car tandem as a downstairs BR option from the builder which made it closer to 2700 sq ft. Assessors records say 4 BR when it has 5BR’s and the sq footage is off by about 200 sq ft.

[sdrealtor]

Problem with new construction is the developer usually just gives them the standard sq footage for each model. For example, my house standard was 4/3 with 3 car and about 2500 sq ft. I got the 3rd car tandem as a downstairs BR option from the builder which made it closer to 2700 sq ft. Assessors records say 4 BR when it has 5BR’s and the sq footage is off by about 200 sq ft.

[sdrealtor]

Problem with new construction is the developer usually just gives them the standard sq footage for each model. For example, my house standard was 4/3 with 3 car and about 2500 sq ft. I got the 3rd car tandem as a downstairs BR option from the builder which made it closer to 2700 sq ft. Assessors records say 4 BR when it has 5BR’s and the sq footage is off by about 200 sq ft.

[sdrealtor]

Problem with new construction is the developer usually just gives them the standard sq footage for each model. For example, my house standard was 4/3 with 3 car and about 2500 sq ft. I got the 3rd car tandem as a downstairs BR option from the builder which made it closer to 2700 sq ft. Assessors records say 4 BR when it has 5BR’s and the sq footage is off by about 200 sq ft.

[Tillers]

I’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.

Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.

[Tillers]

I’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.

Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.

[Tillers]

I’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.

Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.

[Tillers]

I’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.

Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.

[Tillers]

I’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.

Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.

[SD Realtor]

That is the spirit. The hard part about all of this is not whether it is an REO or short sale or regular sale, or a misrepresented listing. Honestly the hard part is finding a place that you REALLY WANT. Once you do that then dealing with all of the other crap is a pain in the ass but worth the wait if it does get done. That prior short sale you had a bad experience with WILL NOT be your last. Again, I am only suggesting that if you are a very discriminating buyer, then you would agree that the inventory sucks, and everything is indeed overpriced and that looking at as many potential opportunities as are out there is beneficial.

It is stupid to have to leave a couple thousand bucks idling away for a bank that will not respond for not just 2 months, maybe 5 or 6 months. However if that is the home you REALLY WANT, then what the heck. Ask that the realtor also moves it out of active status and into contingent status. Then you go on your merry way and continue your home search.

I agree it does suck. However if in the end it got you what you wanted… well then what the heck.

[SD Realtor]

That is the spirit. The hard part about all of this is not whether it is an REO or short sale or regular sale, or a misrepresented listing. Honestly the hard part is finding a place that you REALLY WANT. Once you do that then dealing with all of the other crap is a pain in the ass but worth the wait if it does get done. That prior short sale you had a bad experience with WILL NOT be your last. Again, I am only suggesting that if you are a very discriminating buyer, then you would agree that the inventory sucks, and everything is indeed overpriced and that looking at as many potential opportunities as are out there is beneficial.

It is stupid to have to leave a couple thousand bucks idling away for a bank that will not respond for not just 2 months, maybe 5 or 6 months. However if that is the home you REALLY WANT, then what the heck. Ask that the realtor also moves it out of active status and into contingent status. Then you go on your merry way and continue your home search.

I agree it does suck. However if in the end it got you what you wanted… well then what the heck.

[SD Realtor]

That is the spirit. The hard part about all of this is not whether it is an REO or short sale or regular sale, or a misrepresented listing. Honestly the hard part is finding a place that you REALLY WANT. Once you do that then dealing with all of the other crap is a pain in the ass but worth the wait if it does get done. That prior short sale you had a bad experience with WILL NOT be your last. Again, I am only suggesting that if you are a very discriminating buyer, then you would agree that the inventory sucks, and everything is indeed overpriced and that looking at as many potential opportunities as are out there is beneficial.

It is stupid to have to leave a couple thousand bucks idling away for a bank that will not respond for not just 2 months, maybe 5 or 6 months. However if that is the home you REALLY WANT, then what the heck. Ask that the realtor also moves it out of active status and into contingent status. Then you go on your merry way and continue your home search.

I agree it does suck. However if in the end it got you what you wanted… well then what the heck.

[SD Realtor]

That is the spirit. The hard part about all of this is not whether it is an REO or short sale or regular sale, or a misrepresented listing. Honestly the hard part is finding a place that you REALLY WANT. Once you do that then dealing with all of the other crap is a pain in the ass but worth the wait if it does get done. That prior short sale you had a bad experience with WILL NOT be your last. Again, I am only suggesting that if you are a very discriminating buyer, then you would agree that the inventory sucks, and everything is indeed overpriced and that looking at as many potential opportunities as are out there is beneficial.

It is stupid to have to leave a couple thousand bucks idling away for a bank that will not respond for not just 2 months, maybe 5 or 6 months. However if that is the home you REALLY WANT, then what the heck. Ask that the realtor also moves it out of active status and into contingent status. Then you go on your merry way and continue your home search.

I agree it does suck. However if in the end it got you what you wanted… well then what the heck.

[Author]

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