Omaha Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Buying a short sale house ?
DH and I are interested in a house that is a short sale. Has anyone ever bough a short sale house? If so, please let me know your experience, pros/cons, etc. TIA!
K
Re: Buying a short sale house ?
We did!
Our experience is not the norm though. Our friend was our realtor, so he knew what offers had been made on the house, and what the bank would likely accept.
So, we looked at the house and then offered what he thought the bank would take. The owners counter offered with $1,600 more, we accepted, and then it only took a two days for the back to accept. We closed within the month. In fact, the bank asked if we could close any earlier, so the date was pushed up by a week or two.
We ended up getting our house for about $15,000 less than asking price.
That being said, we know a few couples that have made offers on short sales and haven't heard anything for months. We know someone right now that made an offer 5 months ago.
So, it does have the possibility of being a long process. We were a little apprehensive on the process knowing that, because we didn't want to be paying month to month on an apartment while waiting to hear from the back.
We looked at one a couple of years ago and actually put an offer in only to have them come back later that afternoon with a counter that was $8,000 over our (reasonable) offer. Like SCB, our realtor is a friend and knew what had already been offered and what she thought the bank might accept....turns out the place went for MORE than their asking after a bidding war between 2 other buyers. WTH, right? The place was huge, in a decent area but totally trashed. It would have been a TON of work to fix up - a couple of walls, most of the kitchen cabinets & all bathroom fixtures were MIA!
Good luck if you decide to give it a shot, lots of patience and don't get your hopes up!
We actually had a similar experience! We found a house that we loved, but couldn't figure out why the price was so low. Our realtor called while we were seeing the house and found out that it was a short sale. It had been listed the day before and already had 2 offers. One was was around $10,000 less than asking and one was around $7,000 more than asking. We didn't want to get into a bidding war, so we let it go. I am so thankful, because I like our house a lot more!
I couldn't agree more. We LOVE our house and think I would be unhappy with the 2-story short sale vs. our sweet ranch