08-25-2010, 05:46 PM
Thanks for the tips. Always wondered why short sales stay in contingent on MLS for so long.
Ok, lets assume you make and offer and it gets accepted. Then you do the inspection and results are satisfactory and finances are ready to go. Then you patiently wait for the other side to get their paperwork in place.
I am assuming the final walk-through is critically important in this scenario since the lag between initial inspection and possession of premises is months down the road?
Also what if the premises has pre-existing tenants who are on a month-to-month lease and you get the house and tenants at a bargain price!!! What steps are advisable to protect yourself?
Finally, what is the point of no return; at what point can you change your mind and walk away from the deal? (six months from now anything can happen)
Ok, lets assume you make and offer and it gets accepted. Then you do the inspection and results are satisfactory and finances are ready to go. Then you patiently wait for the other side to get their paperwork in place.
I am assuming the final walk-through is critically important in this scenario since the lag between initial inspection and possession of premises is months down the road?
Also what if the premises has pre-existing tenants who are on a month-to-month lease and you get the house and tenants at a bargain price!!! What steps are advisable to protect yourself?
Finally, what is the point of no return; at what point can you change your mind and walk away from the deal? (six months from now anything can happen)