Big Brown - background info

On December 10, we put an offer on a house, which we will call "Big Brown". It is a 2300-ish sq foot 3 bed/ 2 bath house with a 2-car garage, giant finished basement and good size yard with in-ground pool. Houses like this normally are not in our budget and we were super excited to find it since it is large enough to be our forever home. We figured there had to be a catch and of course, there was. Big Brown is a short sale, which means our fate is in the hands of a random person at a bank somewhere, possibly not even in New England. Also, the current homeowner is a heavy smoker and the place reeks. I'm talking slap you in the face when you walk through the door reeks. After much deliberation we decided that even though ServPro gave an estimate of $3000-4000 to get rid of the smoke smell, it was worth it for this house. So, the waiting began.

On January 4, we learned that there was a second offer on Big Brown. We figured since we low-balled that the other offer was higher than ours and decided to amend our original offer. We went up $10,000. We also found out that day that they were putting Big Brown on a "pending" status and would no longer be showing the house. The seller's realtor told our realtor that our new offer was very close & similar to the other offer.

On January 14, we found out that the bank had yet to look at either offer because they had not assigned the BPO (market analysis) yet. The seller's realtor said she expected the bank to assign this to a third party by the end of the following week (Jan 23).

This brings us to the present...where we are getting very used to waiting, waiting and more waiting.


For more info on short sales, click here.