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Regular Contributor
Posts: 147
Registered: ‎03-21-2012
0

Found a Home we love....funny story

Yesterday we found a home that we really love.  My husband had his eye on this home for a while and once we got our preapproval, we knew we wanted to see it.  It is a 4bed/4bath single home with a fully finished basement and two car garage.  It's is in a great community in PA and listed at $207.9k because it's in forclosure.  The funny part of the story is that we went to see the home on Friday and couldn't get in because the lock box code was incorrect.  My realtor got the updated info and took us yesterday and when we arrived, the for sale sign was thrown into the yard and the neighbors trash cans were placed in front of the house.  Both homes on either side of the home we are interested in are for sale and listed at $258k and $235k.  They must have seen us on Friday and realized that someone is interested in buying the forclosure.  If that house sells for $207k or less, they will have to lower their asking prices....oh well...We are waiting to hear back from our loan officer because the taxes in this area are so high, we want to offer what we know we can afford. Fingers Crossed

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Valued Contributor
Posts: 2,736
Registered: ‎08-13-2009
0

Re: Found a Home we love....funny story

Let us know what happens!

Regular Contributor
Posts: 226
Registered: ‎05-24-2012
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Re: Found a Home we love....funny story

Good luck to you and keep us posted!

Regular Contributor
Posts: 147
Registered: ‎03-21-2012
0

Re: Found a Home we love....funny story

Thanks! our LO worked up the numbers so that we could keep our payments below $1400 a month.  We are offering $115k with 6% sellers assist.  Not sure how well this will go over with the sellers but it is in forclosure and I don't think there has been any other interest due to the high taxes.  We did find out that if the home doesn't sell traditionally by 10/19 it is contracted to go up for auction.  I doubt they will get a higher offer at an auction but who knows.....I guess we just wait at this point.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Moderator
Posts: 13,897
Registered: ‎04-15-2011
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Re: Found a Home we love....funny story

If you could get it for that price,  then  WOW!  Good Luck!!!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Regular Contributor
Posts: 147
Registered: ‎03-21-2012
0

Re: Found a Home we love....funny story

Update......our agent went to Fannie Mae website to place the offer and the site says the house went up for auction yesterday. so he calls the listing agent who told us that we had until the 19th to place an offer and he stands by that information. He says he is going to call the seller tomorrow to find out why there is this mix up and to let them know there is an offer on the table. The bidding ends on Sunday so I guess I will be on pins and needles until then.
Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011
0

Re: Found a Home we love....funny story

listed at 207.9k and offered 115k @1400 per month??? or are you offering 215k? if not you would get a STEAL

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Regular Contributor
Posts: 147
Registered: ‎03-21-2012
0

Re: Found a Home we love....funny story

Yep $115k but only if we can actually present our offer. I am praying that we get a chance because it's probably more than what it would go for at auction.
Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Valued Contributor
Posts: 2,789
Registered: ‎10-10-2012
0

Re: Found a Home we love....funny story

Wow, definitely keep us posted!


Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
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Regular Contributor
Posts: 147
Registered: ‎03-21-2012
0

Re: Found a Home we love....funny story

My realtor called this morning to tell us that the listing agent requested the first three pages of our offer.  He wants to try to do the deal "a different way"  not sure what that means and I used to be a realtor lol....Meanwhile the bidding has gone up by $10K which is still less than our offer and honestly I think the agent (different agent for auction) is placing those bids just to stir up interest.  My husband finds it very interesting that  there has been absolutely no interest in this property for a year and the day we write up our offer someone bids on it.  We shall see how this goes. 

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
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