Tuesday, October 4, 2011

Still Waiting


Summer is definitely over and the fall rains are beginning. Yesterday we paid for another month in the RV park. EEEK! All our cruising friends are readying to go south and here we still sit, waiting for a decision on the house. The offer we made included a deadline of 15 (we thought it was 10 but apparently that got changed) working days for the bank to either or accept or reject. We are now 7 working days beyond that deadline and still have received no response. Why is it that this bank lost 2.39 BILLION dollars due to the huge number of foreclosures they have had to do and yet they are in no hurry to sell these homes. The realtors have become quite reluctant to show short sales and repos specifically because it can take as long as six months for the sales to be completed. It is not unusual for the banks to decline a legitimate offer and counter with a request for more money than they were originally asking. We have heard plenty of these stories from folks who have purchased (or attempted to) these homes as well as from realtors. Given the fact that houses are like cars and boats, and they deteriorate when they sit vacant, one would think the banks would be happy to reduce their inventory. It appears that is not the case. The house we are interested in buying is no exception. The exception (that I am sure the bank does not realize) is that we are NOT married to this house. If they continue to dick around, we WILL withdraw the offer and go south. After all, we already have two homes so we aren't exactly going to be on the street. Besides...neither of us is terribly excited about spending the winter here!

5 comments:

Bob said...

Tell them to go and pound sand (which is what ALL of the US banks should have been told back in 08, but don't get me started!) and head on down the road.
Maybe next spring they'll have changed their tune.
Good luck.

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Lowell said...

Thought you sold your house to wiegh anchor and shoove of for distant shores ... to leave the encumberances of land behind? What are you doing buying another house??????

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