For those of you who have been through this, can you provide some additional perspective?
- When I first spotted the house online, it was listed as a short sale. However, I found out after expressing interest that (apparently) the owners had listed it as a short sale before the bank approved a short sale. The bank tried to do loan modification with the couple, which added to the delay. As they're obviously not moving back in, it sounds like we're past that part. And as far as I'm aware, I'm the first and only offer on the house, as the listing was removed (from online) after the sellers accepted my offer. Any thoughts on what this means for me?
- I have not been asked to do anything other than provide a letter from my mortgage company/credit union about what I could afford. Should I have been asked for more materials by now?
- The mortgage company/credit union contact provided the letter saying I could afford about $2,000 more than I offered for the house (which was about $7,000 below asking). However, I do have more wiggle room than that (and my realtor says that's 'part of the game' so to speak). Will that help or hurt me when it comes to the sellers' bank?