Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago,
Should I push back on the bank or not??
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???