Forum Replies Created
-
AuthorPosts
-
SD Realtor
ParticipantI would also add that I have seen two different appraisers appraise the same property and come in at different valuations. If you really love the home then to me 5k is not a dealbreaker. If your priority is financially driven then you tell the seller take the appraised value or I walk and follow through.
ParticipantI would also add that I have seen two different appraisers appraise the same property and come in at different valuations. If you really love the home then to me 5k is not a dealbreaker. If your priority is financially driven then you tell the seller take the appraised value or I walk and follow through.
ParticipantI would also add that I have seen two different appraisers appraise the same property and come in at different valuations. If you really love the home then to me 5k is not a dealbreaker. If your priority is financially driven then you tell the seller take the appraised value or I walk and follow through.
ParticipantWell I guess I understand wanting to lock in a good rate, however most of the time a lock period is only 30 days. I am sorry to hear about what happened. Unfortunately there are alot of variables involved that buyers need to consider with short sales.
For instance, what if the lender would have accepted the short sale but not released the note? In orher words the seller would have still been under an obligation to pay off the note even though it would have not been secured by the property. Similarly what assurances did you have that the full WRITTEN approval letter would have been delivered in a quick enough timeframe for you to close in mid April (beyond of course the constant verbal reassurances from the listing agent)?
Again, I am sorry to hear about what happened, however with short sales, investing any money or making any plans prior to having that approval letter is risky plain and simple. It does suck though.
ParticipantWell I guess I understand wanting to lock in a good rate, however most of the time a lock period is only 30 days. I am sorry to hear about what happened. Unfortunately there are alot of variables involved that buyers need to consider with short sales.
For instance, what if the lender would have accepted the short sale but not released the note? In orher words the seller would have still been under an obligation to pay off the note even though it would have not been secured by the property. Similarly what assurances did you have that the full WRITTEN approval letter would have been delivered in a quick enough timeframe for you to close in mid April (beyond of course the constant verbal reassurances from the listing agent)?
Again, I am sorry to hear about what happened, however with short sales, investing any money or making any plans prior to having that approval letter is risky plain and simple. It does suck though.
ParticipantWell I guess I understand wanting to lock in a good rate, however most of the time a lock period is only 30 days. I am sorry to hear about what happened. Unfortunately there are alot of variables involved that buyers need to consider with short sales.
For instance, what if the lender would have accepted the short sale but not released the note? In orher words the seller would have still been under an obligation to pay off the note even though it would have not been secured by the property. Similarly what assurances did you have that the full WRITTEN approval letter would have been delivered in a quick enough timeframe for you to close in mid April (beyond of course the constant verbal reassurances from the listing agent)?
Again, I am sorry to hear about what happened, however with short sales, investing any money or making any plans prior to having that approval letter is risky plain and simple. It does suck though.
ParticipantWell I guess I understand wanting to lock in a good rate, however most of the time a lock period is only 30 days. I am sorry to hear about what happened. Unfortunately there are alot of variables involved that buyers need to consider with short sales.
For instance, what if the lender would have accepted the short sale but not released the note? In orher words the seller would have still been under an obligation to pay off the note even though it would have not been secured by the property. Similarly what assurances did you have that the full WRITTEN approval letter would have been delivered in a quick enough timeframe for you to close in mid April (beyond of course the constant verbal reassurances from the listing agent)?
Again, I am sorry to hear about what happened, however with short sales, investing any money or making any plans prior to having that approval letter is risky plain and simple. It does suck though.
ParticipantWell I guess I understand wanting to lock in a good rate, however most of the time a lock period is only 30 days. I am sorry to hear about what happened. Unfortunately there are alot of variables involved that buyers need to consider with short sales.
For instance, what if the lender would have accepted the short sale but not released the note? In orher words the seller would have still been under an obligation to pay off the note even though it would have not been secured by the property. Similarly what assurances did you have that the full WRITTEN approval letter would have been delivered in a quick enough timeframe for you to close in mid April (beyond of course the constant verbal reassurances from the listing agent)?
Again, I am sorry to hear about what happened, however with short sales, investing any money or making any plans prior to having that approval letter is risky plain and simple. It does suck though.
ParticipantPersonally I liked the lot on maple in 92008 that went at auction the other day for 695k. 1/2 block to the beach. It has a dinky home on it but pretty nice to be so close to the water.
ParticipantPersonally I liked the lot on maple in 92008 that went at auction the other day for 695k. 1/2 block to the beach. It has a dinky home on it but pretty nice to be so close to the water.
ParticipantPersonally I liked the lot on maple in 92008 that went at auction the other day for 695k. 1/2 block to the beach. It has a dinky home on it but pretty nice to be so close to the water.
ParticipantPersonally I liked the lot on maple in 92008 that went at auction the other day for 695k. 1/2 block to the beach. It has a dinky home on it but pretty nice to be so close to the water.
ParticipantPersonally I liked the lot on maple in 92008 that went at auction the other day for 695k. 1/2 block to the beach. It has a dinky home on it but pretty nice to be so close to the water.
ParticipantI guess I am intrigued by this. Not the part about the lender offering a mod, but why did you do your inspections before the short sale was approved by the lender. Sometimes (but not always) it is a good idea to wait until all the lenders have sent an approval letter so things like this do not happen to buyers.
-
AuthorPosts
