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short sale follow up

By pipjones   Follow   Wed, 17 Oct 2012, 8:56pm   344 views   3 comments
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A few weeks ago I wrote about a short sale where I was taken aback that we were not able to counter offer a price that was not much lower than the asking price. It now turns out, as we are in the process of the sale, a "judicial foreclosure was filed". What does that mean? Can we/should we try to renegotiate the price? Is there any way this could be to our benefit?

Thanks.

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1. BobMSN Follow Befriend 3 threads 98 comments

   1   9:39am Thu 18 Oct 2012   Share   Quote   Permalink   Like (2)   Dislike   It is a good opportunity to withdraw your offer. To buy vote, Obama has thrown so much tax payer’s money into it that the seller has too many options. The government pumped up the house price until Obama get re-elected. You will not likely to get a reasonable deal even for short sale. http://money.cnn.com/2012/10/16/real_estate/obama-housing-scorecard/

2. Call it Crazy Follow Befriend 249 threads 2,915 comments

   2   9:43am Thu 18 Oct 2012   Share   Quote   Permalink   Like (2)   Dislike   pipjones says What does that mean? Can we/should we try to renegotiate the price? Is there any way this could be to our benefit? My guess, the bank decided to move forward with the foreclosure and hang onto the house in hopes that prices move up and they can get more for it when they sell it in the future...

3. 37108605 Follow Befriend 1 threads 1,055 comments

   3   12:28pm Thu 18 Oct 2012   Share   Quote   Permalink   Like   Dislike   Call it Crazy says pipjones says What does that mean? Can we/should we try to renegotiate the price? Is there any way this could be to our benefit? My guess, the bank decided to move forward with the foreclosure and hang onto the house in hopes that prices move up and they can get more for it when they sell it in the future... How sad, but likely the pathetic case.