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Updated almost 13 years ago on . Most recent reply

User Stats

683
Posts
190
Votes
Cheryl C.
  • Investor
  • Reston, VA
190
Votes |
683
Posts

Backing up a short that is under contract

Cheryl C.
  • Investor
  • Reston, VA
Posted

I have been searching the mls for shorts that are under contract in my desired neighborhoods. Generally, I target those that have been UC for awhile. I contact the lister and explain my situation (investor, cash buyer, can wait as long as it takes). First, I tell them that I want to be the back-up. This is where I run into a roadblock. The listers tell me that they are not accepting back-ups. Anyone running into the same proplem? Can they refuse to submit a back-up offer or are the banks behind this "policy".

Thanks for any input.

btw - I send my e-mail and a brief note to let me know if things fall-out. I got an e-mail on one last night from an agent who would not take a back-up. He wants to meet asap.

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