neatfreak
Super_Ideal_Rock
- Joined
- Feb 17, 2007
- Messages
- 14,174
Date: 11/18/2009 4:46:00 PM
Author: trillionaire
So we finally tracked down the selling agent, and it turns out that they guy owed more on the house than previously thought, so she spent all day filing bankruptcy for him in order to stop the foreclosure. We get screwed because we had the strongest offer, but they didn''t have to accept any, and it would have made it a short sale anyway. So, she relisted today for 55K more than it was listed before!(told you it was a steal!) and it''s still undervalued at that price. So we''re crunching the numbers again...![]()
Yeah short sales are often priced WAY under market value in order to attempt to get a bidding war going. With SS''s you need to expect to pay a somewhat fair price-the bank isn''t going to accept an offer just because it was "at asking" because asking price with a SS doesn''t often mean anything.