Hi everyone. I am so sorry I keep posting here, but we are trying to buy a short sale, and even my realtor said today, if its not one thing, its another. After the SS bank approved everything, now we find out there are probate issues the attorneys are trying to expedite. In addition, our broker was is not the best about getting back to us, and even though this has been ongoing for months, he is working on getting seeing if the place we want to buy (condo) can be financed. So today we got a "partial answer".
Apparently (what I am told) there is one owner in the complex that owns 10% or MORE of the units. They are (supposedly) trying to get an exception. My question is, is this even usually done, or am I just wasting time? We are so depressed and feeling like that there is this negative energy over us that just doesn't want us to buy. First when the bank approves us, we thought we were okay, then lower appr, more weeks of waiting, then before Christmas, we get our yes, happy again, now this. We really like this place, but is it likely that we will get financing IF one owner owns more than 10% of the unit? Thanks in advance.
Love,
Lauren
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Hi Laure. It used to be so easy to buy a home. Not anymore. Getting a condo financed is very difficult. Hopefully your lender can get this sorted out for you. Exceptions do happen.
Trying to purchase a condo with financing, that has probate issues AND is a short sale is quite the daunting task. If you truly want this unit then keep pushing forward knowing that it may not work out.
If you have other options I'd start pursuing them.
I hope this helps.