So we are going to play dirty and go look for other properties and put in multiple offers. Looking at a house on Lake Dr. in Crestline. It has a huge garage and workshop plus exposure. It is another AS IS by the FHLMC but what the heck OUr agent doesn't mind because they are not going to loose out. They get a commission one way or another. The reason for this is that the FHLMC has dragged their feet for four weeks now.
Gotta have a place to put my SSR, doncha know.
Yes it is. they do not want to do any repairs to a house. Guess who buys them? Investors with cash. FHLMC wanted to accept a cash offer for fifteen thousand less than our offer to that they did not need to do repairs making the house safe and habitable. They did not want us to get a USDA loan and requested we get a FHA 203k to bear the expense of repairing the property. They take our offer and it takes a week to respond. Now we are in to it four weeks with no home or accepted offer. Even if they agreed to it there would be another week wait before they return with a signed agreement to start escrow.
Don't get me started. If you have anything to do with that organization, that we the tax payers bailed out the in the first place, I would like to know your position and area of responsibility. If you were joking, my apologies for having a short fuse these days. My goal this weekend is to gather addresses of all government representatives and start exposing their practices. Our original, higher than asking price, offer was dated 5/24/11.
I suspect this subject is like dangling a worm in front of a hungry fish; monitors will jump on it like a duck onto a June bug and move or delete it.
I think you should walk away and find something else. I was just checking online and found 169 listings in Crestline alone. I remember 2 years ago shopping for a house and what a pain in the rear it was. Repo's, bank owned, and short sales take forever to work a deal with the banks. I remember at one point having offers on about a dozen homes. My success came with making a offer on a bank owned home and for current market value. AND I didnt ask for anything more than that, like closing cost, repairs or anything. The banks like a clean deal. And out of 20 offers in 3 days they took mine.
Dont know if you're looking online or just having your agent looking for homes, but if you're up for hunting online try redfin.com. I would find homes I had intrest in and give my realator the MLS number. Saved me from looking at a bunch of dumps and wasting his and my time.
I bought the hellhouse (daughter's house) for cash from a bank. It was a foreclosure. Went on the market on a Monday, I seen it that morning. Offered 30% less then the asking price. In 2 days they agreed. It did take about 30 days to complete the deal. And it was sold as is.
My apologies to Sangus who has been most helpful to us with his past experience. We have been advised to walk away and I think that it is the right thing to do at this time. Yes, we are on line every day and see every posting FHLMC lists. We drive properties every day and have checked out all those that we can afford.
As you know, this is a very emotional event and hinders productive logic.
We also tried to buy a BofA foreclosure. We DID have better luck with them but the house had ten structural issues that we could not afford to fix and had to let it go.
The fact remains that we have been vigilant in answering all FHLMC suggestions and offers but the return effort is just not there. I think the case worker has too many properties to handle and each time there is a counter the file goes back to the bottom of the list. This is something CalVet use to do to train Realtors not to bug them.
We'll keep you posted.
I bought the hellhouse (daughter's house) for cash from a bank. It was a foreclosure. Went on the market on a Monday, I seen it that morning. Offered 30% less then the asking price. In 2 days they agreed. It did take about 30 days to complete the deal. And it was sold as is.
You were fortunate, Thumper. I guess it just the nature of each transaction that dictates the time involved.
I am glad your transaction went well and I am sure your daughter will benefit from it. Just wish we could get the FHLMC to pay some attention to us.
The AutoGuide.com network consists of the largest network of enthusiast-owned enthusiast-operated automotive communities.
AutoGuide.com provides the latest car reviews, auto show coverage, new car prices, and automotive news. The AutoGuide network operates more than 100 automotive forums where our users consult peers for shopping information and advice, and share opinions as a community.
Our original, higher than asking price, offer was dated 5/24/11.
Linear Mode
