Need Info Please Help, I Want My New House!!!
Can anyone tell me why a bank would pass on a short sale offer of $138 when the house lists at $159 and has at least $10K worth of repairs just to move in, not including another 5k in cosmetic repairs? I am not an experienced investor, not investing now, just trying to buy a house we like, but it is set to go to auction on March 31, and we made our offer on the 15th. They have sent an appraiser out to take pictures and have not contacted the realtor for several days. Is it possible they will let it go to auction on Wednesday without responding to my offer, or more likely they will respond the day before? My realtor doesnt know anything, and he says they rarely respond, but this is a bank we are talking about, I work in the finance industry and I know the red tape, I cant imagine they would be meeting compliance regulations by not responding with a counter offer or at least a 'NO'. The realtor also said banks rarely counter offer, which goes against everything I have read here.
Basically, in a nutshell, can someone tell me if I am going to get my house on tuesday or not??? psychics welcome...hehehe
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