Bad news on the house :(

goldenleaves

Our realtor said best case situation means we still wouldn't find out for another month. And it could very well be longer than that. Add in the time in takes for inspection, closing, repairs, etc... We're not withdrawing our offer yet, but we are going to start looking around at other houses. I'm bummed, I really love this house But we've had our offer in for 3 months already. 8 weeks ago our realtor said it would only be 4-6 weeks. Now 8 weeks later, she's saying the same thing. I'm so irritated at the whole situation!

KMT to JWH

What is the hold up? Why is it taking so long?

goldenleaves

It's a short sale, so we knew it would take a while. We're just a little sick of getting the runaround from our realtor as to exactly how long. She told me today what was supposedly happening with the bank, but she told us the exact same thing 8 weeks ago. She was recommended to us by one of DH's relatives, who told us our realtor had an "addiction problem" but it had never affected her work. (Said relative worked with realtor). We completely disagree. She is impossible to get a hold of, never calls or follows up when she says she will, etc... We signed a contract with her, so at this point we just want to buy a house and be done with her.

Zip1209

That is SUCH a drag.  I completely understand the time pressures.  We're building a house that "should" be finished by the end of Oct.  This gives us a whopping 5 weeks to get moved in a settled before the baby arrives (and that's if LO is not early!).  Best of luck.  I know it is very frustrating to not feel settled.  But if it's the house you love, love, love...don't give up on it yet.

ufrealtor

I am so sorry to hear that you are having trouble with buying this home. I know how frustrating short sales can be. 

Not sure where you are located, but I am a realtor in North Florida and the short sales in our area are taking 2-3 months to hear from the bank, unless you pay cash, and then 2-3 more months to close. I always try to explain to people that they do take a long time to close especially if there are multiple liens/loans on the property, roughly 6 months.

Have you heard anything from the bank or have they at least ordered the BPO? I find that having a buyers attorney sometimes helps in getting the bank moving. I think a lot of factors go into closing a short sale. The main on being the realtors experience and knowledge of them, the second would be the title company or closing agents for the property, and the third would be the terms of your contract.

If you do feel like the problem is your agent you can always try talking with her or her broker. Good luck and I hope everything works out.