So we made an offer on a shortsale that BOA had-the home was left in a terrible shape and had been vandalized after their appraisal had been done- after a week we were asked to get a letter from a contractor for our low offer justification- all the wires I mean every single wire in the entire home had been cut- the copper stolen from the units- we got the information from a contractor and submitted that- then about a week later we hear that they are going to just let it go to foreclosure.
Then we got word that its now sold to another bank and they may or may not pick up our offer and either decline, accept or counter- in the mean time the home is subject to more vandalism since its not locked up or protected sufficient enough-
Anyone have any ideas of what I can expect?
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They should be asking property preservation to go secure the property to help prevent any future vandalism. If the transaction did not have short sale approval it's likely the short sale review will have to start all over with the new mortgage servicer. The new mortgage srevicer may order a new value to be completed or uphold the previous servicers value. Whoever is working the file needs to ask the right questions to see how the new servicer is going to proceed.
310-564-6489
The realtor stated that she spoke to the new bank and they said it would be this coming Monday 8-11, before they looked at it- There was no approval- BOA asked for us to sign their paperwork, then asked for a letter from our contractor to justify the low offer then we only heard that they sold it to Selene- we really want this one- but have others in mind as well and don't know if we should wait this out or just make an offer on another home- I really don't want this uncertain area to drag out another month and then back to square one-signing a new contract isn't an issue and we have the letter already from the contractor to submit to show low offer justification since the home was vandalized- we do know that the previous owners owed around $118k on the house before losing it. I appreciate any and all info. Thank you
Thank you for the information. Its been sitting for 2+years according to the dates that we found on some papers showing the prop was winterized- Bank of America is who the property taxes were paid to- and that is who we first made our offer to- then we were told they transferred it to Selene-
We hope to hear something Monday in hopes of either counter offer or at this point any reply on our offer would be great- The thing about appraisers around our area have no clue what things really cost to cure- the electrical that every wire in the house was cut including in the attic that you have to army crawl to get around in-
Fingers crossed that everything works out. Thank you again for any and all info
Thank you for the information. Its been sitting for 2+years according to the dates that we found on some papers showing the prop was winterized- Bank of America is who the property taxes were paid to- and that is who we first made our offer to- then we were told they transferred it to Selene-
We hope to hear something Monday in hopes of either counter offer or at this point any reply on our offer would be great- The thing about appraisers around our area have no clue what things really cost to cure- the electrical that every wire in the house was cut including in the attic that you have to army crawl to get around in-
Fingers crossed that everything works out. Thank you again for any and all info
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