My folks have been wanting a new house for a few years now especially since the 99 Tornado took theirs away, they finally found a newer house and have been living in it since fall of 99. anyways they finally found their dream home and it was listed in the 240's but come to find out it was in foreclosure, so they offered a flat $200k and the bank wouldnt even counter-offer...in fact they never heard a word back from them at all. so they gave it a few months and re-offered the $200k....still no word. Then the realtor had several open house weekends so my folks decided to re-bid...still nothing! so for the last six months the bank wouldnt even counter-offer!!!

finally the bank decided to put it up for auction, we went last night and my dad ended up high bid at 190k...bank approval pending. So we find out today that the bank accepted the offer as is!!!

crazy stuff, if the bank would have accepted their earlier offer they would have been 10k ahead.

http://estates-unlimited.com/index.h...26inwindow%3D1

 

That's crazy man! I think we should have a house warming party for them.

 

thats plumb crazy. On top of being 10 grand ahead they would have had it much sooner and not had a loss just sitting there.

 

LOL that is CRAZY!!!!!
I think they lost all the way around!! What is the interest on a $240,000 home at 5% annual?
$6000 and that is not compounded!!!!
Mark

 

Yeah, plus auctioneer and realestate commission on top of that. Funny how those things work. Congratulations to them on the house. Does it have a big garage? That is my priority.

Del