We made a cash offer with no contigencies on a home listed as a short sale.

Amy
Home Buyer
Dekalb, IL

The offer is 10% below the asking price and 75% of the balanced owed on the mortgage.

The offer was countered and then accepted. Our escrow check was cashed and then the home suddenly disappeared from mls and is de-listed for all intents and purposes. Our scheduled closing date has been pushed back another 30 days.

This seems to easy and almost fishy am I missing something?

Answers (1)
Keith Manson
Agent
Milwaukee County, WI
FIRST ANSWER

When you indicated escrow check I assume you mean your earnest money deposit for the transaction. I am not sure why the information would come off the mls, but I would contact your agent and ask them.

I am assuming that when your earnest money was cashed that the bank sent a letter authorizing the the deal. If not check with your agent. There could also be other lien holders that need to be addressed that could cause the delay but that would suggest the deal has not been approved yet.

I quess my best suggestion is to talk to your agent before I outline "what if'"s.

Good Luck


Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield, Wiscosnin

Tue May 5 2009, 14:41

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