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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.

14 years ago. Rating: 2
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