Made offer on short sale, might be foreclosed on tomorrow....

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Submitted by Tillers on January 6, 2011 - 5:19pm

So I went ahead and made an offer on a short sale I checked out a month or so ago. Was going to meet at the property tomorrow to go over the documents but decided to take a couple hours this afternoon off and head up there.

I meet my Realtor up and when we get to the front door there's three sheets of paper taped to it. I didn't read them verbatim but from what I could gather they were public notice of default and tomorrow (1/7/2011) is when the house will be foreclosed.

So, I guess it's now up to the listing agent to extend the sale?

Submitted by SD Realtor on January 6, 2011 - 8:58pm.

Well it is up to the listing agent to check with the short sale negotiator to see if the trustee sale was postponed. You will know tomorrow. Keep your fingers crossed.

Submitted by Tillers on January 7, 2011 - 1:52pm.

Sale was postponed until Feb 17th. So I guess in the grand scheme of things, I should hear back from the bank about my offer by then

Submitted by sdrealtor on January 7, 2011 - 2:06pm.

FYI, they typically only pospone a month or so at a time. While I hope you get a quick answer, multiple postponements are very common

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