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Updated over 14 years ago,

User Stats

566
Posts
355
Votes
Ralph S.
  • Real Estate Investor
  • Sacramento, CA
355
Votes |
566
Posts

Buying SS for Personal Residence?

Ralph S.
  • Real Estate Investor
  • Sacramento, CA
Posted

Ok, SS masters, help me understand. I know some SS's take forever, yet a lot of people seem to gravitate towards them. While I've bought numerous HUD's, a Freddie and REO, I've not ventured into SS territory. I found a house I'm interested in and will be looking at it tonight. It'll be for my personal residence.

I've read many "blast out 20 offers and hope to get one" posts here, but this is not for a flip or investment, it's just got all the bullet points we're looking for.

My biggest concern is time. Does the amount being shorted, the lender involved or other considerations influence the bank's response? Are there any indicators I can watch for that would suggest, at least, whether the lender would get off the bench and do it in a timely manner? Anything I can do, or not do, to influence a timely closing?

Other than that, any good (in general) do's and don'ts would be helpful.

Or, am I just dreaming?

Thanks
Ralph

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