Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 11 years ago,

User Stats

492
Posts
209
Votes
Andreas W.
  • Durham, NC
209
Votes |
492
Posts

Is that part of what to expect at short sales?

Andreas W.
  • Durham, NC
Posted

Hi.

I am pretty new at this game, so please excuse me if what I describe is routine. In summer I put a short sale under contract with the seller, awaiting a reaction from the bank. Nothing moves for almost four months until I see the property on auction.com listed as trustee sale. My realtor finds out from the listing agent that all of the sudden there is a bank counter offer. I don't understand why the listing agent didn't inform us. I also don't get that there is no written and signed document sent from the bank. Only a brief email from the listing agent states that the bank counter offered at a certain price. Meanwhile I countered the counter offer, and again, no response from bank or listing agent while the trustee sale date is getting close.

How can the bank go forward with a foreclosure when it is in contract negotiations with me? Is that legal or do they get by with it because they know they can? And why doesn't the bank bother to document the counter offer?

Loading replies...