short sale IED

[tugg49]

Reply to all here.
First thanks for pointing out the property tax in two weeks.
Second I’m in the unincorporated part of Salinas and it’s a house that is similar to our house in San Diego. Carpeting and Granite countertops. Monterey seems to be in love with hardwood floors and tile tops.
Third A house in Monterey proper at 450k is an all cash offer contender and not very accommodating to VA. We’ve looked for over a year…every Saturday and Sunday we were house shopping. This is IT.
Fourth, the “tenant” is out. We won’t close until the locks are changed and her possessions are gone.
Fifth, the wife will be working at a Hospital off 101 and her commute from Monterey will be awful. From North Salinas it will be bearable I’ll take the hammer and deal with the commute in the evening.
Thanks for all the pointers and flags. I’m not into defending myself and “justifying ” my position. I read one post that wanted to know what a short sale was like and just wanted to present the reality of one short sale.
Looking back I believe a buyers agent would have kicked this deal to the curb especially after the commission cut. Under a million here is busy work for a realtor.

The folks in the office support my views. Monterey proper is a tough market at our salary range.
We were going to buy a house in Seaside for 395K and it was over 300 bucks a s/f. Flippers!
Key money is just one of the last minute traps you have to deal with. The owner could very well let it go to foreclosure. That would be a bitter pill for a couple of grand. Thanks for all the advice and guidance. Be gentle piggies…and Happy Holidays.

[bearishgurl]

I understand now, tugg. A VA deal makes sense in Salinas, as does a 10 yo 3000+ sf SFR on a large lot situated within an HOA … for ANY price.

I’m sure you’re aware that in Monterey proper the land there is far more valuable than Salinas … and the housing stock there is older than possibly 90% of Salinas’ housing stock and thus not encumbered by MR and there are very few (if any) SFR HOAs there. Thus, the differences you mentioned (which will always be so). One city is coastal and the other is not.

When you mentioned you were purchasing in “Monterey” in your http://piggington.com/375_no_points thread, I wondered how you found a “seller” to accept a zero-down VA offer (esp approved by a lender selling short) in Monterey.

In any case, whatever “magic” you or your agent pulled out of a hat to get your “seller” out of there can be resurrected now to get her to MOVE her stuff out promptly, as well ;=)

Congrats again on your purchase, tugg and I sincerely hope you are not left holding the bag on any back taxes and/or HOA dues and that you will be able to close by the holidays!

[sdrealtor]

tugg
Dont worry about back RE taxes. They are a lien against the property and escrow/title wont let it close unless they are paid up to the close of escrow date on a pro rata basis

[bearishgurl]

[quote=sdrealtor]tugg
Dont worry about back RE taxes. They are a lien against the property and escrow/title wont let it close unless they are paid up to the close of escrow date on a pro rata basis[/quote]

Understand this but wonder if tugg will be asked to raid his “tip jar” again before COE in order to assist with this endeavor :=0

[Author]

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