Buying A Home
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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.
After the offer is sent to the bank...
I know it can take 45 days to 6 months to approve a short sale home. I'm wondering, after your offer is accepted by the seller and sent to the bank, how likely is it that someone else will come along and outbid you? They do continue to review offers even while in the process of accepting your offer, correct?
We offered full price for the house, $109,000, with seller paying $3,000 in closing costs. Closing costs are estimated to be $4,000-5,000. We are absolutely in love with this little house, and I'm so terrified of the thought of someone with more money than us coming along and offering more for it.
I wish it was a shorter process.
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Re: After the offer is sent to the bank...
We put a condition in our offer that the bank could not collect other offers until it decided on ours.
My realtor said that the default action is that other bids would be allowed, and if a better offer came in, the bank would tell you "no" before moving on to the next bid.