My last post referenced an example of the Pitfalls of Buying a Foreclosure Property. After waiting for days for a response, we gave notice that we were walking away from the deal if we did not get a response to our offer within 24 hours.
For the record, you don't normally have the power to push a bank into action. I am not sure we did in this case, or if the timing just coincided with our "ultimatum." Anyway, yesterday at 4:00pm, 4 hours after the ultimatum, we learned that our offer was accepted by the bank.
The process is FAR from over and many pitfalls lie ahead, but for right now, chalk one up for the common man.
Jeff Edmisten
The Edmisten TEAM
Keller Williams Realty
(540) 538-7222
jedmisten@kw.com
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