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housing vent grrrr
I'm trying to buy a house and can I just vent for a minute?
There is an incredibility HIGH number of houses listed for sale that are not actually for sale. (High = more then zero imo)
For example, one house (foreclosure), that I was thinking of putting an offer in on, has already had two people offer full price! and the bank rejected both as they want more $ - wft? then list it at a higher price (one that will no longer be in my price range so I wouldn't waste my time even looking at it (several times), getting excited about it, and spending time and effort to put in an offer)
Another house, again one that I want to submit an offer on, but it's a short-sale, has again had two offers (not sure how much) and the bank said they are not accepting any more offers as they haven't even approved the short-sale so the list price that the house is listed for was picked by the owner without bank approval so the bank considers that price meaningless -wft?
Why are houses being listed at price X with the bank having no intention of selling it at the price.
So frustrating.
I'd like to see them try to pull that at Walmart
Re: housing vent grrrr
Some banks and listing agents will list a foreclosure super low in the hopes of getting multiple offers and creating a bidding war that drives up the price. That may be what this bank is trying to do, although it doesn't appear to be working.
With the SS, the price the owners chose IS meaningless without bank approval. You have to remember that for the bank to agree to take a loss, the sellers have to prove that the house truely isn't worth what they owe on it AND that they have a financial hardship that prevents them from covering the difference. It sounds like the sellers either dragged their feet starting the process, or the bank wasn't willing to consider doing a SS until the sellers received an offer.
Don't get me wrong, I understand your frustraition, but it comes with the territory. I have been looking for a home for months and like you, I seem to keep falling in love with houses that aren't available. I feel more annoyed with the listing agents, because they are the ones choosing not to be upfront.
Yes - which is probably the source of my frustrarion
Yes I am looking at rentals too.... but they are higher then purchasing.. well maybe not if the foreclosures are priced lower then they are going to sell them for...
it's my price range. 9/10 houses that come in my budget are bank owned. But I think looking at a non bank owned house that is smaller, not as nice an area etc may actually be more realistic in terms of getting a sale approved.
Something has to be sacrificed -right? It's all about compromise. It just sucks as Stxb is keeping our current house - his mom is helping him. I love our current house, but can not afford to keep it alone