Just got this email from our realtor about the offer we put in on that short sale house.
"I met with the listing agent for the house this morning and she brought me up to date on her conversations with the lender. She's pretty confident that they aren't going to accept your offer (we already figured that) but she's trying to get them to come back with something reasonable. They evidently have two Broker Price Opinions saying the house is worth $100k more than what we offered. She is telling them that it isn't, and the fact that your offer is the highest one of the only two offers they've had in 5 years is proof. She's hoping to have a counter offer in the next week or so. One thing to keep in mind, whatever they come back with, they are going to want you to pay the seller's closing costs. She said they are hung up on not allowing the seller to pay them. Not uncommon with short sale deals."
It's amazing to me how a bank sitting halfway across the country would want to be stubborn about this. On paper, the house may be worth what they say, but in reality, it isn't because of the condition it is in. It's only going to be worth what someone is willing to pay for it and apparently, our offer is the highest of the two the agent has ever received over the course of the 5 years for this property.
Short sale offer status
June 22nd, 2011 at 08:07 pm
June 22nd, 2011 at 08:52 pm 1308775978
June 22nd, 2011 at 10:04 pm 1308780248
Are you sure you'd want a house that's been essentially abandoned for 5 years?
June 23rd, 2011 at 12:09 am 1308787786
June 23rd, 2011 at 01:11 am 1308791519
June 26th, 2011 at 07:54 pm 1309118094
Jerry