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Short sale question! Owner won't let us see the house.
So yesterday, our realtor called to schedule a showing for a SS. They require 24hrs notice which is fine, did that. We get there this morning and the owner answers the door and tells our realtor that she isn't showing her house. The realtor tells her we received a confirmation to show it yesterday and the owner said "well, now I've declined it." SO.. that was a bummer. So our realtor immediately called her realtor and she had no idea why the owner was doing that (besides the obvious that she's ticked that her house is a SS) but other than that, she didn't know why and told us we could schedule another time so I think we'll try again tomorrow.
I don't know too much about short sales but I'm guessing there isn't a whole lot we can do if she refuses to let us see her house?
Re: Short sale question! Owner won't let us see the house.
This doesn't make any sense.
A bank wouldn't want a short sale house to sell faster necessarily because they would rather it not sell at all and the owner keep it. I don't understand why the owner has the house on the market if she isn't going to let anyone see it.
Definitely just run away. Not worth it.
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This. I don't care how good it looks in the listing, short sales are a big enough PITA when you have a seller that is on-board and looking to sell, you don't want to start the process with someone this uncooperative. Every step along the way will be a challenge with her.
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Was it perhaps a tenant? We ran into this - we scheduled three times to see a property that we were interested in, got it approved, and showed up only to be told to "go the f^ck away" or not even bother answering the door. We later found out the tenant had destroyed the interior of the house....
If not, run like hell. The house we eventually purchased was SS with a seller who told us she was "above short sales" and though the entire situation was crap. It was offer #11 for us, 10 in the same neighborhood, so we ended up putting an offer in sight unseen... and got it. We saw the house several days after our offer was accepted and sent to the bank only because she had a late meeting at work. There was no power. She accused told our realtor we scared her dogs (uhm, no). She did not want us in the house for the inspection. She sent her daughter (24) to check on us during inspection and later claimed we kicked her out (no). She told our new neighbors that we bred, raised, and fought pitbulls. When the house flooded a few days before escrow was set to close, she made every part of the repairs a living nightmare. For us we were on a deadline so we road it but but if you see the warning signs now, RUN.
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She doesn't want to sell. Plain and simple.
The only thing you could do: not buy her house.
Sorry for the frustrations
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It depends. A short sale does not mean that she is going to go into foreclosure. A short sale is when the owner makes a deal with their bank to sell if for less than is owed. It will only go into foreclosure if they owner stops making payments on the home.
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But in my area the bank won't even agree to a short sale unless the buyer is behind. They won't give the approval for a short sale until they have the offer in hand. A short sale is a last ditch effort to get out of a mortgage before foreclosure in my experience. If it's listed it generally means the owners sought out a realtor to list the house and want it sold to avoid a harder hit to their credit and a potential deficiency that the bank may try to recoup. I'm thinking this was the tenants, it makes no sense for it to be the buyer because they would WANT the sale through a short sale. At least that's the case where I live (aka the hotspot for foreclosures and short sales).