We put an offer on a house Monday and it was accepted by the owner!!! But the catch is that this house is a short sale. For those who don't know, a short sale means that it could take months for the bank to approve the offer or to not approve the offer. The reason that people do short sales is that they cannot afford to pay for their house anymore so instead of having their house go into foreclosure and not receive any profit they go to the bank and ask the bank to allow them to sell their home as a short sale where they bank can make a profit and so can the owner. Banks only approve on the homes they think they can get a profit from. So the house goes on the market for much less than it is worth and what is owed on the mortgage.
During the banks part in all of this they like to drag their feet and be lazy. Why? I have no idea. Our realtor says that it could take up to two months for the bank to approve. Not as long as I've heard they can take; they could take longer than two months. But the owner has approved. That's one step down.
Like I said in my last post my family and I really like this house. It is almost perfect for us! Nice front/back porch, four bedrooms, three full bathrooms, a half bath, woods around us, fenced in yard, and a big kitchen! This house sometimes feels to good to be true. Hopefully the Lord allows us to get it! Please be praying!
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