Foreclosure Caretaker
Buying a home what has to happen to have the listing “pending”?
We are buying a home that is a short sell. We are also caretakers for the home we are buying. We submitted a contact for less than the loan amount. The current owner has signed the offer and now it is sitting at the bank. The bank has assigned a negotiator and we are waiting to hear back from him. We have had 10 showings on the home since we put in our offer and the realtor will not put our listing as “Pending” can they do this?
They keep telling us that until the bank accepts the offer they will show as “active”.
But we have a contract signed by the buyer and seller, just waiting on the bank to decide.
Other points to point our. The house goes to sale on the 18th of Feb, for foreclosure.
I am in Colorado if that matters too.
Any expert advice would be helpful!
You need to have an accepted offer and escrow has to have opened.
Until the bank accepts your offer you do not have an accepted offer.
You are not “pending” to state that you are would risk not only the agents license but the broker too.
It is likely to be foreclosed on the 18th. You or the sellers waited too long.
Larry Fights Foreclosure in Barstow, CA
