i found this really nice 3355 sf house in arizona, 5 bed, 3 bath and it is listed for 299.000 as a short sale. a real estate person told my mom that short sales never go for the low price, and that they always sell for more..

so my question is, can you get a short sale house for the listed price?

Why would sellers want to deal with buyers who use short sales?

My husband and I are 1st time homebuyers. We recently signed a contract to purchase a short sale house at $380k from my husband’s friend of 20 years. The bank approved the short sale amount of $360k. There were 2 other offers then, $385k and $395k. However, our friend signed our offer and rejected the rest.
Agent Hell 1st told us 23rd June that we would get the house by end of July. 25th June, she called us up said she would only submit the offer if we use her as our loan officer. We agreed. 27th June, she called our friend up and said she would buy the house from him at $380k and give him another $20k cash on the side, which my friend refused. 27th June late afternoon, she called my husband up and said bank rejected our offer. Our friend called the bank up and the bank said no offer was received. So our friend called her up and told her if she tried anything funny again, he’ll change agent.
Loan’s approved, went into escrow, I assume, since cheque was cashed and house off market.
Agent HELL told us the bank approved the offer but she refused to give us a copy of the approval letter.
This has been dragging on for the last 3 weeks. She had been threatening us that if we don’t let her be our loan officer, we’ll never get the house etc. She only locked in the interest rate last week and charged us 7.9%??!!! She added, “It’s not the interest rate that matters, IT IS WHETHER YOU CAN GET THE HOUSE!” My husband said just let her do it, we’ll refinance next year.
Husband went to see her today, she refused to say anything. She seems to be trying to drag out the whole thing so that the house will go into default.
We were thinking of complaining about her to the real estate association, however, everything’s not under her name—> Agent’s and loan officer’s names are other ppl’s names, not hers.
Now we don’t even know whether we would get the house and our lease to our apt is almost up.
Please kindly advise!
Thank you very much!
We did have our own agent. Agent HELL lied to him, i think, that the commission is only $5k. Our agent then decided that it’s not worth the trouble so handed all ‘rights’ over to her.
I didn’t know anything about this because my husband was the one who handled the whole thing.
Yes, I do know that verbal agreements/threats do not stand unless written, that’s why we are having such big headaches now.
I was going to complain to the local authorities about her but my husband told me that NOTHING’S UNDER HER NAME. Agent HELL is operating under someone else’s name for the loan.
This is ultra frustrating since we are trying to get out of this apt complex asap because we also have a neighbor from hell.
If she uses someone else’s name for the loan, can we still lodge a complain? We have the emails from her with loan details.
My agent called my husband and this is what he told him. “Agent HELL called him at 10am, told him she’s going to wait out now, wait till the original owner’s move out and the house go into default. Then she’ll put a lockbox on and then accept the highest offer or buy the house for herself!!!!!!!!!!”
My husband said he’s been trying to call her for the last 2 hours BUT she refused to pick up the phone.

Clarification: The agent’s name listed on the contract is not Agent HELL’s name, the loan officer’s name is not hers either.

I’m in California, this is the 1st house buying for us, that’s why we do not know what is going on.
My husband just called the Escrow company. They said that she did submit the bank’s approval letter for the sale of the house. HOWEVER, she took it back from the Escrow company last Friday after she locked us into the 7.9% interest rate, saying that there’s a 2nd approval from the bank she needs to get.
Erm…what is going on now? Agent HELL still refuses to answer the office’s phone and she offed the cell phone.

We have already signed the escrow papers a week ago, the lender has already made payment 5 days ago and now our real estate agent and escrow is saying they need to FINAL short sale approval from bank of america in order to send it to registar in order to close so we can get our keys!!! The house has been vacant for 3 months so its not like the amount of time for escrow matters. The real estate agent says bank of america has a 72 hour hold before they approve? I have never heard of this? We are already paying mortgage for this place and we cant even get the keys.. does anyone have any advice? we keep getting the close date pushed back farther and farther and we have to be out of our apt in a few days! does anyone know anything that can help us? Thank you
we have approval from bank of america but we are being told that they must approve everything after it goes to escrow again

my loan it will be 140k….with 35,000 down payment “silent loan” assistance from the county….they are saying my payment will be around 1094.00 a month with tax and insurance.what other expenses should i consider?with a 30 yr fixed rated of 6.25 (good faith estimate) only. house it will be 25 minutes away from my work….. should i reconsider…i have no other debt like car payment or credit cars…please advice me…no pmi insurance or flood zone c. its a short sale bank approved “must” (in california) price 175.000 dlls
and we got about 13 thousand in savings we are asking for 8300 for closing cost?no car payment no credit cards..payment is 1049.00 a month with tax and ins..

We recently put in an offer on a Michigan home that we were told by our agent was a foreclosure. We found out after putting in our offer that the home is actually a short sale - so we do not have a short sale addendum. We put up earnest money which we were told by our agent was required and would not be cashed until the offer was accepted. The seller accepted our offer but the bank has not approved the short sale. However, our earnest money check was cashed this week? So I have several questions that I hope someone experienced with short sales can answer for me:

- Without a short sale addendum, can we back out of this purchase if the bank takes too long (several months) to give us an approval?
- Was it right for our real estate agent’s office to cash our earnest money check prior to lender’s approval of this short sale?

No provisions were made to the contract so we had to get an inspection already - before the lender’s approval. Do we have an inexperienced agent? Please help
Our agent is not the listing agent. The acceptance deadline in our contract was only put in place for the sellers acceptance. Nothing is listed as an approval date for the bank - as when the offer was written, we were told it was a bank owned property and not a short sale. In regards to Trulia, I had not yet seen those responses. I posted my questions to both sites but I will check Trulia now. Thanks for the responses.

I offered the exact asking price listed. Hoever, what are the chances of the bank accepting this offer? Are my chances higher if the home is already empty? Please let me know thanks!

I want to put an offer on a house that’s listed at $80k. The listing agent told our agent that 2 offers have been accepted by the bank already. 1 is obviously a backup offer. 1st offer is $80k. 2nd offer is $80k with 3% closing costs back. If I offered $95k with 6% closing costs, can a bank accept my offer? I thought I read somewhere that in a short sale the bank can always entertain other offers even after accepting others until the house is closed. Is that true?