All Forum Posts by: Jessica Schwartz

Thanks for the input- we heard back with 5 minutes to spare and they countered with the list price and $2500 earnest money.

I'm a little confused about this earnest money stuff. We have financing ready to go, so long as it passes inspection, and submitted proof of that. Why are they insisting on $2500 earnest money? I believe it goes towards closing costs, but are they really going to be such sticklers on this?? We have our approval for the USDA rural housing mortgage- the 100% financing, which includes financing closing costs.

Is it worth countering with list price, and adding a note that our financing should include closing costs? OR just cut our losses and walk away

We are very frustrated. Some background- we live in a small town in a rural area. There isn't a very hot market here, especially for people who live here year round. We put an offer in on a foreclosed house we have had our eye on for a few weeks, but were delayed because of having to go our of state last minute for a funeral, etc.

The morning we went in to place our offer, they dropped list price $10k to just over market value. We put our offer in for market value upon learning the list price had been reduced, which was only 2k below list price, and asked that they simply bring it up to code as there is a section of electrical that needs to be reburied, left over from the septic being replaced a couple years ago. Our bank won't finance until that is buried, and no bank would finance it like that.

This was last Wednesday. We gave a deadline of that Friday afternoon- never heard anything until we finally found out the lady who apparently is in charge of this or the listing, or however it works, was apparently out of the office because when the listing agent forwarded our offer, he got an automated response.

Apparently the list agent felt the bank was seriously considering it because it hadn't been outright rejected. A previous offer placed on the house for 30k below list price was immediately countered with list price (this was a few weeks ago) and then it never went anywhere.

We extended the offer until today, and we heard from our realtor that apparently the lady is back i nthe office, but not responding to the list agent's emails about our offer. Both realtors felt they were seriously considering it and likely to accept as it was a very fair offer and better than anything else they had received, and ours was the only one in the pot.

So what gives? Why no response at ALL?! Do we just kind of have to humor Chase for now? When should we expect to hear something? Are they possibly waiting to see if they get another offer in this week since they lowered the price? Are they just being jerks? We really want the house- we will never find another one in that area (which is perfect for us) and within our price range.

Is there a way to find out what department at Chase I could call and talk to someone?