Mortgage Forum

Mike

I got 2 issues going on right now and I don’t know how to deal with it. I need professional and experiences information please.Background: Pre-Approve through BOFA, First time buyers, some what knowledgeable in the buying home process. Definitely NOT a sucker. #1 My wife and I have found our dream home; we made an offer and were told to make a final offer due to 8 different offers. This is foreclose home and in very decent condition. That was 8 days ago. Still there is no response from my realtor. What should I do? Every time I call, he tells me the banks are still deciding. Which doesn’t makes sense because you would think a foreclose property would sell very quickly. Last time we spoke was on Sunday, when he mentions there were only now 3 offers. We also sign a document stated property is sold andquot;as isandquot; and seller is not making any repairs. What should I do?#2 My wife and I went out shopping again for another property with another realtor agent. We found another great home and want to make an offer. Even though we got issue #1, we wanted a plan b, just in case. The seller wanted us to pre approve for the property. I’ve already been approve for a loan else where. The Loan officer wanted all info that relates to 2007 W2’s, last 2 months check stubs, last 2 current bank account statements. In addition, this home was on the market for 214 days, when we saw the home and told the agent that we were going to make an offer, he replied there were a total of 2 offers and I must make a first and final offer. I don’t know guys, sounds tricky but are these normal characteristics of a realtor? Need advice. Thanks in advance.Tyes Lee