We looked at 8 properties over the weekend and ended up making three offers, two on short sale the other was bank owned. The last short sale I purchase took 8 months before the transaction closed. I’m never sure if I am going to get any or all of the properties.
Short sale property number one was on the market at $69,900 for 61 days, my offer was $60,000. Short sale number two was on the market at $109,900 for 286 days, my offer was $80,000. The bank owned property is on the market for $43,900 has been on the market for 16 days, my offer was $40,000. All the offers were cash offers without contingencies.
At this point it is a waiting game, but one I am very familiar with, the key is patience.
