During the past year we have been looking for a new house. Last month we found it-the DREAM home. We put in an offer three weeks ago and now our realtor is saying we’re not dealing with the builder anymore, we are dealing with the bank. And in the three weeks the bank hasn’t even seen our offer as it is one of 400 properties on a desk. Our realtor has never dealt with a short sale or foreclosure and neither has the seller’s agent. I asked if we could call the bank and make this a priority; I didn’t think the banks wanted to hold onto properties I thought they wanted to get rid of them. My realtor said we can’t go over the seller’s agent’s head to get to the bank. Who do I need to get on the phone with to get our offer looked at? It just doesn’t seem that these people are doing all they can to push this thing through. Any suggestions on what the next move should be? Or how I could go about finding which bank it is we are even dealing with? Thanks!
Well it sounds to be that the Builder had the listing agreement with the Realtor. IF the bank owns the property now I would think that the listing agreement would be null and void. I would check with the Recorders Office and see who owns the property.
That’s the weird part. The county website has the builder as the plat owner, but the RMC has the Mortgage company as the “property of.” There is a mechanic’s lien from the siding guy not being paid for $10,000.
Also found out today that an investor is buying up all 9 of the properties the builder lost. So I guess the bank’s going to like his offer for ALL much more than ours for ONE. Only thing I can hope for now is that we can get in touch with him and just offer the investor what we offered the builder. And hope for the best!
what state are you in?
do you have an attorney? one that specializes in real estate? one that specializes in short sales?
if not - big mistake.
if you’re working with an agent who hasn’t recommended using the services of a qualified attorney to get your offer to the sellers attorney - then your offer is almost certainly no where near the bank.
short sale - in new york anyway -
you enter into full contract with seller - that contract gets submitted by sellers attorney every day with phone call f/u’s every day. sellers attorney gets extension of ONE person to talk with - that’s it. and continuously refers to that person, the decision maker.
YOUR AGENT is clueless. currently i’m working with several buyers and i qualify any “short sales” for them BEFORE we even look at the property. my time is valuable, so is my clients - so by me simply picking up the phone and making a 2 minute call - i can sum up whether or not the “short sale” listing - whether a fsbo or listing - is worth even a split second look or not.