sorry to drag up an old thread but any update? i was reading this at work today and noticed the date.
house dilemma with the sellers
- Thread starter Cutehumor
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Here's what our buyer's agent said a few days ago in an email:
"I just got off the phone with the seller agent who spoke with the bankers regarding the short sale. Here's the latest:
The Broker price opinion (appraisal) has been submitted and is in review currently with the bank. The bank has indicated that the file should be assigned by June 14th, at which time they would be in a position to schedule a closing if the file is complete. They asked the seller agent to contact them at that time.
If there's any other property you would like to see next week, please let me know; otherwise, I will let you know what I hear on the 14th.
Thanks, and have a good weekend!"
The case hasn't even been assigned yet, the bank is saying the short sale file will be assigned by the 6/14th.
Our contract ends 6/30th. It looks like we won't get the house. At the end of every email, my agent hints about looking at more houses just like above. I talked to my wife about this. She doesn't want to look at anymore houses. She said if we don't get the house by 6/30th, she wants to step back for awhile and not look at homes to buy. It's taken an emotional toll on us. I can't wait to get our earnest money back, the seller's real estate company has had it for three months.
My agent won't be happy about us not buying at all and I'm assuming Bank of America will charge us fees for the appraisal that was done and any fees they can think of if we walk away after 6/30th. I've been looking daily at homes in the area we want and in our price range, there has not been a single home added for sale since 4/30th when the first time buyer credit ended. It's like I keep seeing the same houses nobody else wanted.
"I just got off the phone with the seller agent who spoke with the bankers regarding the short sale. Here's the latest:
The Broker price opinion (appraisal) has been submitted and is in review currently with the bank. The bank has indicated that the file should be assigned by June 14th, at which time they would be in a position to schedule a closing if the file is complete. They asked the seller agent to contact them at that time.
If there's any other property you would like to see next week, please let me know; otherwise, I will let you know what I hear on the 14th.
Thanks, and have a good weekend!"
The case hasn't even been assigned yet, the bank is saying the short sale file will be assigned by the 6/14th.
My agent won't be happy about us not buying at all and I'm assuming Bank of America will charge us fees for the appraisal that was done and any fees they can think of if we walk away after 6/30th. I've been looking daily at homes in the area we want and in our price range, there has not been a single home added for sale since 4/30th when the first time buyer credit ended. It's like I keep seeing the same houses nobody else wanted.
How much are the fees? Me not knowing contract law or property law, if they're not outrageous, pay them and move on. I'd consult your lawyer about paying them, and maybe telling the banks to suck wind since you're the buyer stuck in the middle.
Good luck!
Good luck!
Cutehumor,
When I was looking for a house, I had to take a step back as well after some disappointments. It took almost a year later before I went looking again and I'm glad I had that time to reflect. My wife and I are now in a house that we both love and it was better value than what we were looking at before.
Good luck.
When I was looking for a house, I had to take a step back as well after some disappointments. It took almost a year later before I went looking again and I'm glad I had that time to reflect. My wife and I are now in a house that we both love and it was better value than what we were looking at before.
Good luck.
update.
My agent just called to tell me that the bank wants an updated bank account statement from the sellers and the short sale should be approved in two to three days. Then my agent tells me the U.S senate just voted to extend the home buyer credit until 9/30th, but the house has to pass the bill too. This sounds unbelievable, but I found it online. My contract is up on 6/30th.
Senate votes to extend home buyer credit
My agent just called to tell me that the bank wants an updated bank account statement from the sellers and the short sale should be approved in two to three days. Then my agent tells me the U.S senate just voted to extend the home buyer credit until 9/30th, but the house has to pass the bill too. This sounds unbelievable, but I found it online. My contract is up on 6/30th.
Senate votes to extend home buyer credit
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since today is 6/30 and the end of the home buyer credit, I have not heard anything from our buyer agent. I called him, he forwarded me an email from the seller agent saying the short sale case hasn't been assigned yet! "suntrust says case will be assigned to a loss negotiator in another 5-15 days" the case was submitted for short sale almost two months ago.
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agent called my wife today. they talked. the sellers are lowering price by $15k if we still buy. but I'm not sure if we qualify loan anymore with looming medical bills. my wife and i have 800 credit scores. our 5k earnest money is hanging in the balance.
Looming medical bills? I thought your insurance was going to take care of it?
"Looming" means hurry it through.
This may even work to your advantage; you can tell the hospital you need a roof over your head and pay them a couple $100 a month for eternity.
I refi'd when my wife was visibly eight months pregnant but the bank wisely (and probably legally) didn't ask if we were planning any interruptions in our work.
I think we had to swear something about not being party to any lawsuits... but nothing about medical bills.
I refi'd when my wife was visibly eight months pregnant but the bank wisely (and probably legally) didn't ask if we were planning any interruptions in our work.
I think we had to swear something about not being party to any lawsuits... but nothing about medical bills.
Good lord; I just read this entire thread. This may be bad advice Cutehumor, but given your health at the moment, if you've got a comfortable safe place to live at right now (apartment or whatever), I'd get out of this fiasco with as much as you can recover and focus in what matters: your life and your family. You don't need this cloud hanging over you while you're battling to get over a major illness, and yes, the expense from your surgery has to be a major factor in all of this. I've had 2 major surgeries in the last 10 years, and even with insurance, with the deductibles and co pays, I was out several thousand dollars.
The sellers are in over their heads financially and are getting divorced; don't let that happen to you.
A big house and nice possessions are meaningless if you can't use and enjoy them.
I wish you the best of luck buddy.
The sellers are in over their heads financially and are getting divorced; don't let that happen to you.
A big house and nice possessions are meaningless if you can't use and enjoy them.
I wish you the best of luck buddy.
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I think the agent wants us to buy quickly before we start receiving the high amount of medical bills. I just got two bills for a CT scan and a bronchoscopy. with insurance, I almost have to pay $1000.
I have not received bills for 2nd bronchoscopy,24 hospital day stay, blood tests everyday, 4 units of blood transfusion, medicines everyday, two swallow study test, MRI test, EGD test, 4 chest x-rays, echocardiogram test, home oxygen machine, daily infectious disease doctor visits, daily lung doctor visits, daily lung surgeon doctor visits, one neurologist visit, one psychiatrist visit bill, lung surgery bills, 12 day ICU ventilator stay, and one day radiation treatment.
however, money is not important. I'm happy to be alive.
I have not received bills for 2nd bronchoscopy,24 hospital day stay, blood tests everyday, 4 units of blood transfusion, medicines everyday, two swallow study test, MRI test, EGD test, 4 chest x-rays, echocardiogram test, home oxygen machine, daily infectious disease doctor visits, daily lung doctor visits, daily lung surgeon doctor visits, one neurologist visit, one psychiatrist visit bill, lung surgery bills, 12 day ICU ventilator stay, and one day radiation treatment.
however, money is not important. I'm happy to be alive.
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Originally Posted By: Cutehumor
agent called my wife today. they talked. the sellers are lowering price by $15k if we still buy. but I'm not sure if we qualify loan anymore with looming medical bills. my wife and i have 800 credit scores. our 5k earnest money is hanging in the balance.
my sister is a part time real estate agent, she couldn't close on a short sale because the seller had cancer and receiving chemo. bank would not allow her to sign over house to buyers. I guess "medically not stable"
agent called my wife today. they talked. the sellers are lowering price by $15k if we still buy. but I'm not sure if we qualify loan anymore with looming medical bills. my wife and i have 800 credit scores. our 5k earnest money is hanging in the balance.
my sister is a part time real estate agent, she couldn't close on a short sale because the seller had cancer and receiving chemo. bank would not allow her to sign over house to buyers. I guess "medically not stable"
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