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Made my first offer on a house!!!

Cuda1447

Cuda1447

Lifer
Damnit!! My Wife and I finally find a house we like and want to make an offer on. This house has been on the market for like 120 days with no offers, now all of a sudden it has 3. WTF mate?

Ah well, we gave a really solid offer, so we'll see what happens. They have till Friday at 5pm, or no soup for them. (Aka, we can make offers on others without being obligated).

I'd just like to finally get a house. It'd be such a relief and soooo nice to get out of this damned apartment.

It's a shortsell too, so even if the seller accepts ours and not the other offers, we still have to worry about the bank.


Oh well, wish me luck. I'm just ranting.


 
Originally posted by: Cuda1447
WTF Barfo!!! How'd you get above me?!?
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Appears to be my specialty these days :laugh:


Originally posted by: artikk
wtf, v bulletin needs to die.
I agree about having a house though, much better investment.
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I think you mean FuseTalk 😉
 
Good luck cuda, I'd be wary about short sales though. The bank can drag out negotiations for months and even after thing seem to be settled, cancel the deal. They're never pleasant to do and the broker I worked with recently (closed on a condo a couple weeks ago), said he would never work on a short sale again, they're such a pain.
 
Originally posted by: Chronoshock
Good luck cuda, I'd be wary about short sales though. The bank can drag out negotiations for months and even after thing seem to be settled, cancel the deal. They're never pleasant to do and the broker I worked with recently (closed on a condo a couple weeks ago), said he would never work on a short sale again, they're such a pain.
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Ya I've heard about these problems before. Problem is at least 75% of the listings are either short sales or foreclosures. What the hell am I supposed to do?
 
Heh. The OP got teabagged by vBulletin.

Good luck with the house. Good time to be buying so even if you don't get this one you're bound to find a bargain on a nice place.
 
Good luck!

I only put 1 offer so far, and it was on a condo a few months ago. I asked way lower then they were willing though. This summer I'll go house hunting again. I really want to move out from my parents'.
 
I have been keeping track of some properties that I am interested in and recently a few of them are in Contact recently, these properties has been on the market for over 120+ days too.

Good Luck!
 
Originally posted by: Newbian
Originally posted by: barfo
Originally posted by: Mermaidman
Originally posted by: Cuda1447
WTF Barfo!!! How'd you get above me?!?
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LOL! Next thing you know, he's already living in your new house.
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And banging your dog😛
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Fixed since it's true. 🙁
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I'm so sorry, your dog and your wife look almost the same
rose.gif
 
Originally posted by: TastesLikeChicken
Heh. The OP got teabagged by vBulletin.

Good luck with the house. Good time to be buying so even if you don't get this one you're bound to find a bargain on a nice place.
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Aren't we still using Fusetalk?
 
Originally posted by: Cuda1447
Originally posted by: Chronoshock
Good luck cuda, I'd be wary about short sales though. The bank can drag out negotiations for months and even after thing seem to be settled, cancel the deal. They're never pleasant to do and the broker I worked with recently (closed on a condo a couple weeks ago), said he would never work on a short sale again, they're such a pain.
Click to expand...

Ya I've heard about these problems before. Problem is at least 75% of the listings are either short sales or foreclosures. What the hell am I supposed to do?
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And that's inevitably where the deals are, too. Just prepare for the worst and never get too invested in any property. Certainly not all short sales drag on, banks need to liquidate after all.
 
It appears if you post within a certain time frame of the original post, your post will come ahead of the OP. barfo's been doing this all day.
 
Originally posted by: ultimatebob
Originally posted by: TastesLikeChicken
Heh. The OP got teabagged by vBulletin.

Good luck with the house. Good time to be buying so even if you don't get this one you're bound to find a bargain on a nice place.
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Aren't we still using Fusetalk?
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Oops. Yes we are.

I blame Artikk.
 
Are you 100% certain about the other offers? There was a house on the market for a couple years (he was asking too much) - in the meantime, the guy who owned it died. Somehow, the bank came to have it again (foreclosure, I assume) after the guy died. Still, it was on the market for quite a while. We looked at it and ended up putting in a purchase offer. The next day, the realtor called: "I had another offer today on the house. So, what we're going to do is have each of you put in your best and final offer." So, we upped our offer quite a bit, bypassing the going back and forth a couple times until a price was settled on, and hopefully outbidding the other people. We never heard a thing back for a couple weeks, so assumed we didn't win. 1 week before we closed on the house we live in now, we got a call from the other realtor asking what's taking us so long - we apparently had the highest offer. It appeared that it was the *only* offer. Ooops, they screwed up and didn't sell the house.
 
If your offer is approved, expect the SPO process with seller's mortgage servicer to take weeks. And what could kill your deal (besides not being in line with market value) are high closing costs (like seller concessions or the seller hasn't paid their property taxes and/or HOA in years). Good luck.
 
Originally posted by: DrPizza
Are you 100% certain about the other offers? There was a house on the market for a couple years (he was asking too much) - in the meantime, the guy who owned it died. Somehow, the bank came to have it again (foreclosure, I assume) after the guy died. Still, it was on the market for quite a while. We looked at it and ended up putting in a purchase offer. The next day, the realtor called: "I had another offer today on the house. So, what we're going to do is have each of you put in your best and final offer." So, we upped our offer quite a bit, bypassing the going back and forth a couple times until a price was settled on, and hopefully outbidding the other people. We never heard a thing back for a couple weeks, so assumed we didn't win. 1 week before we closed on the house we live in now, we got a call from the other realtor asking what's taking us so long - we apparently had the highest offer. It appeared that it was the *only* offer. Ooops, they screwed up and didn't sell the house.
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Florida is awash in short sales right now. And there's a ton of activity, but relatively few closed deals. Buyers are basically throwing out lowball offers left-and-right (for lack of a better way to put it). In the meantime, it takes weeks if not months for the SPO to approved by the seller's mortgage lender, during which time buyers move on to cheaper pastures as values continue to decline. It's an ugly spiral, although IMO it may have bottomed out (in Florida at least, other markets are on different timeframes).
 
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