HELP!!! Wamu, can't get any answers.

[Frank Walton]

I am dealing with a short sale threw a realtor, offer is accepted threw home owner. I have been waiting for 2 months and the only thing we got back from wamu is they will consider my offer and that they have assigned a negotiator. My offer was 196,000 and the BPO came back at 180,000 so i thought i was sitting good, but now 2 month's later a second offer came in at 197,000 only one thousand over my bid. I quess my question is how long to i have to wait to get any answers do i get in a bidding war even thow nobody knows what the bank is going to do, or is this what the bank is hoping for.

[James Ward]

Ready for this -

You can't!

Not really anything you can do at this point. That is why most investors that specilize in short sales, do not purchase properties that are listed.

If I were in your place, here is what I would do:
1) Call the listing agent to get an update. Have the Realtor send it to you by eMail.
2) Ask what the hold up is at this point. Has the offer been accepted, countered, or rejected.
3) IF other offers have been placed, ask Realtor to verify if the new offers are higher, less items on the addenda, or anything else. (This to needs to come in eMail form.)

Once you get the info by eMail, make a descision. Take all this you have gained and now look over the property and what will have to be done to purchase. (Question- Is the property still worth it?)

If you want anymore help, ask.