Here I thought putting an offer on a normal house was complicated, difficult, and paper-consuming… Apparently, putting an offer on a not-good-condition short sale takes somewhere around 30 pages of paper, signed about ten different times. Now we just have to wait for the seller to accept the offer, the bank to accept the offer, and the mortgage investors to invest the offer… so instead of the standard 1-2 days for a normal offer, we now get to wait 10 full days.
And all this just to purchase a house that is going to need its purchase price in repairs within the first 2-5 years. Unfortunately, our proposed purchase price is a bare fraction of what is currently owed on the house, so I guess we get to see whether or not the bank and investors want to take a bath…
made it to step 2 | no such luck | the waiting game |
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