I'm downright disgusted and I wish my life wasn't worth a dime (because it's worth negative dimes)

[Connonym]

(lame copycat) I got an offer on my house finally but it's 20,000 below my asking price. This means it'd have to be a short sale where I'll end up owing the bank money afterwards. The prospective buyer told my realtor that since I was desperate I could take it or leave it. I understand someone wanting to get a good deal on the price of a house, I was already at rock bottom asking price and way below market value (and the house is in fabulous condition). I fucking hate that this guy is trying to screw me because I'm desperate. I just have to vent because I'm really upset about it. Truth is I really don't have much choice but to accept but I'm angry. Guy is probably a republican, that's their MO, screw someone whenever you can. I need a hug.

[AllegroRondo]

1. Ouch. I'd say no just for spite.

It sucks to be in that position. But if this guy is trying to screw you on the price just because he can, he's not worth trying to deal with. For all you know, he's just going to try to flip it.

[Connonym]

2. that's kind of my thought as well

but it's going to go into foreclosure if I don't have a buyer within a couple of weeks. My realtor told me to not be too hasty but I wonder how much of that is her being afraid she won't get a commission. So I can have a foreclosure on my credit or I can owe $20,000. I'm don't know wtf to do.

[joneschick]

3. your bank may accept a short sale

to avoid foreclosure. You may be forgiven the difference. Talk to them while you're decision making on the offer. It's costly for them too. OTOH, the guy that made the offer is an opportunistic prick. :hug:

[Connonym]

4. thanks for the hug

They may accept the offer but, as I understand it, any amount of debt forgiven is regarded as income and I will have to pay income tax on it. Not 20,000 worth but still a big chunk of change.

Fuck opportunist pricks. Yeah, yeah it's nothing personal, it's business but I think it's scummy to take advantage of a person like that. Which is why I fucking hate corporate America and their opportunistic climbing on the backs of the downtrodden to further their wealth.

[leftofthedial]

5. just say no

it's the repuke thing to do

[Connonym]

6. You know what I just now realized

It's actually 30k after the realtor gets her commission. Fucking A I've gotten myself into a big mess. :'(

[datasuspect]

7. what about bk?

what's the worst case scenario if they foreclose?

[Connonym]

10. worst case scenario

to my understanding with a foreclosure I'll have a very difficult time ever getting a mortgage again, huge blot on my credit rating. Plus there's court involvement with a foreclosure. I guess I can offer them the deed in lieu of foreclosure, no court stuff but still a huge blot on my credit.

[reyd reid reed]

8. I'm sorry.

I don't have any advice for you (my first thought is to tell the prospective buyer to fuck off), but...

:hug::hug::hug:

[eyepaddle]

9. I'm not really familiar with your situation, but I'd lean towards telling him to go

to hell.

Well, actually I'd just say "no deal" and see if you can call his bluff. A few weeks isn't much time, but it is a little time and I'd use every thin advantage I had. If you can get the bank to play ball on forgiving the short sale and get him to come up some that should reduce the liability on your part.

I'm sorry you are in such a tight spot.

:hug:

[philosophie_en_rose]

11. $30,000 is an outrageous loss.

Could you contact a rental company to rent the place out for your mortgage price or a little less? Or maybe the bank will buy it from you? There may also be real estate or mortgage companies that will buy your place.

If you have to sell for that amount, I hope that you can find someone who deserves it - rather than a vulture.


:hug: :hug: :hug:

[Connonym]

13. I told him to go F-himself

I declined the offer. I decided that the tax liability and/or debt liability is worse than having a foreclosure. I still have some time to sell. There have been about 4 showings a week so it's not impossible that I'll get another offer and if I don't, I don't.

[philosophie_en_rose]

14. good for you.

:thumbsup:

[Zoigal]

15. Kudos to you, Connonym

For refusing that creep's offer. Sending lots of

good vibes your way.

[Connonym]

16. thanks

my realtor talked me into counter offering at 1000 below my asking price to show that I'm willing to give an inch. I told her that was my final offer. We'll see what happens.

[Tyler Durden]

12. If you didn't jump at it...DON'T.

That is, unless you absolutely HAVE TO.

Most people like that can be moved up at least half of the difference. Forget what they said: make a counter offer.