I have been looking at houses for a couple of months and found a house that is a short sale. Through a real estate agent, I made an offer for exactly what they were asking. Does anyone have any suggestions, advice, or correct steps with trying to get a short sale property? Is there anyway to know besides the agents word that the offer was submitted? Will the bank take the offers and accept the top offer without allowing others to increase their original offer?
If you are currently only in the verbal stage, other offers can come in. That happened to me last fall and I almost lost the house. Once you begin signing papers for the house, putting down earnest money, etc. the deal gets more solid. I advise you to be a pest to your agent and to the seller, its the only way to make sure things are getting down. Also, ask them to write something in when you submit earnest money that says they will stop viewing other offers.
Good luck
yes you are in a bidding war if other offers are in
References :
If you are currently only in the verbal stage, other offers can come in. That happened to me last fall and I almost lost the house. Once you begin signing papers for the house, putting down earnest money, etc. the deal gets more solid. I advise you to be a pest to your agent and to the seller, its the only way to make sure things are getting down. Also, ask them to write something in when you submit earnest money that says they will stop viewing other offers.
Good luck
References :