Q: We are currently in the process of buying a short sale in Cape Coral, Fla. We placed the bid and after 10 weeks our agent said the bank accepted the bid but it needed $5,000 more for the second lien. OK, we offered that the next day. However, today the agent called and said we now must pay the full asking price, which is another $35,000. This is the best part: The home is listed by an agency that the seller works for (he is also a real estate agent), so basically the seller is the listing agent's co-worker. I am at the point of walking away. Any suggestions? A: As you probably know by now, my position is that short-sale buyers should essentially always be at the ready to walk away unless and until they have the seller's bank's approval -- on terms that work for both buyer ...
Special Report: How to make the most of open houses
by Gill South | 4 days
What happens when boomers retire?
by Teresa Boardman | 3 days
Compass: Conqueror or flash-in-the-pan?
by Brad Inman | 3 days
LA MI DC
'Best Buyer' report gives tactical marketing advice
by Gill South | 2 days
Why real estate coaches are (un)necessary
by Inman | 3 days