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luvtea
LIF Toddler
Member since 2/09 390 total posts
Name:
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I am posting this for a family member can someone help me ASAP about short sales? opinions, thoughts, etc...
SIL is interested in a short sale house- can someone tell me what they know about it? is it worth it? Do you get stuck waiting years to get the house? Any opinions, thoughts etc would be welcome. Thanks in advance!
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Posted 10/21/10 9:45 AM  |
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bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: I am posting this for a family member can someone help me ASAP about short sales? opinions, thoughts, etc...
Ask Beth! She is extremely knowledgeable and above all, HONEST about it all! GL!
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| Posted 10/21/10 9:49 AM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: I am posting this for a family member can someone help me ASAP about short sales? opinions, thoughts, etc...
it can be worth it. Really depends on the deal. You wouldn't be waiting YEARS, but it could take a few months longer than a traditional sale (though some move very quickly).
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| Posted 10/21/10 10:41 AM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: I am posting this for a family member can someone help me ASAP about short sales? opinions, thoughts, etc...
i bought one in FL
it was stressful but i love my house
we did wait about 6 months on another short sale house that we didn't get (i thank god for that now!) and that process was very stressful in a bad way...waiting for that long was horrible but in the end it worked out b/c i am glad we didn't end up in that house...
with the short sale we ended up purchasing the process was about 2 month from offer to close. very quick for a short sale. the mortgage was with a local bank in FL so they negotiated with us right away - usually that isn't the case, or wasn't the case when we were buying last year
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| Posted 10/21/10 10:45 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: I am posting this for a family member can someone help me ASAP about short sales? opinions, thoughts, etc...
I am Certified Distressed Property Expert (aka Short Sale Expert)
Please feel free to email me any questions about short sales
please keep in mind there is no 1 size fits all answer- every situation is unique!
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| Posted 10/21/10 12:29 PM |
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NoStressMom
My Heart and Soul
Member since 5/05 11122 total posts
Name:
D
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Re: I am posting this for a family member can someone help me ASAP about short sales? opinions, thoughts, etc...
I also bought a short sale on LI it took only a few months to close but I was in contract with another one prior which was also a short sale and we waited on that home for almost 9-10 months before we even heard if the bank would accept the offer!! That home is still for sale almost 2 years now
I have learned that if a home has more then one bank on it move on!! The house we own now only had one bank.
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| Posted 10/21/10 1:44 PM |
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