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Updated about 9 years ago,

User Stats

55
Posts
6
Votes
Rafael Brown
Pro Member
  • Ashburn VA
6
Votes |
55
Posts

Should I push back on the bank or not??

Rafael Brown
Pro Member
  • Ashburn VA
Posted

Ok. So I purchased this foreclosed property for a really great value ($47,075). The bank just sent my realtor a note saying that because there are 2 liens that need to be handled (they are taking care of them), that closing is going to be pushed back to March 10. We were set to close on January 25th. My question is should I push back on the bank and ask them to lower the price to the original ask of $44K? Now, I'm a bit nervous to ask for a lower price b/c when I tried to purchase the property I found myself in a bidding war b/c after putting in $40K in rehab, it will sell for $140K being conservative. 

Lastly, this is my first property so that's why I'm nervous and I don't want to loose the deal. My realtor thinks that I'm crazy for asking. Why are you guys thoughts???

  • Rafael Brown
  • Loading replies...