Me and DW are looking to buy a house through FHA. We were approved and found a house we really like…. The house has been on the market for a year now. We made an offer on the short sale and it was accepted by the seller. Our realtor let me know that the sellers realtor said that our offer was great. Its been about 2-1/2 weeks waiting to here back from the bank. My realtor informs me that the bank says the seller should be able to sale the property without doing a short sale, and that the sellers monthly financials should be able to support their mortgage. The seller of course disagrees, and wants to do a short sale….
Anyone have any insight on what might be happening?
If the bank wanted more money, wouldnt they just refuse the offer, or counter?
Why would the seller want to do a short sale, when the bank reviews their financials and say that they should be able to make the mortgage payment and just sell the house without a short sale?
Any info. to just kinda shed some light on the other side would help