jazz4cash
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
DD is jumping from the nest and into the real estate market. We live in a county that is flagged for high foreclosure rate. There are some decent deals out there (lots of them), but we are quite amazed how the banks seem to be exacerbating an already difficult situation. Homeowners don't seem motivated to move on either.
DD is on her 4th property negotiation. She has offered full asking price for each property (all listed as short sale). One property had multiple full price offers and the bank rejected them all to solicit higher bids. The other two were either rejected by bank or withdrawn due to slow response from lender. The bank takes 3 wks or so to make a decision and there is no progress information available until they respond. It seems like there are no rules/guidelines for the SS process and banks can do whatever they want. I beleive it is dragging down the housing recovery in this area
DD is on her 4th property negotiation. She has offered full asking price for each property (all listed as short sale). One property had multiple full price offers and the bank rejected them all to solicit higher bids. The other two were either rejected by bank or withdrawn due to slow response from lender. The bank takes 3 wks or so to make a decision and there is no progress information available until they respond. It seems like there are no rules/guidelines for the SS process and banks can do whatever they want. I beleive it is dragging down the housing recovery in this area