I've been working with Indymac doing a short sale. There was a first buyer who gave and offer at $180,000. After Indymac did an appraisal on the property the value came out to be $230,000. The buyer thought that was too much and walked.
I got another buyer that gave an offer at $210,000 which worked out find and we got an approval letter. Now the new buyer requested to get an extension in order to close the file and get my property sold and Indymac negotiator says that the buyer could not get an extension and will have to submit the file all over again.
Crazy but through. Now the buyer already has approval from his lender and only working on prior to loan documents conditions which is normal with an FHA buyers. Once completed the buyer will receive loan documents and then take the next steps to fund the deal.
Indymac is now telling the buyer that they have to come with a higher offer and countered the same buyer to the original $230,000 appraised value that they originally got. The negotiator says that an extension cannot be granted. Now I'm not sure if the negotiator is being difficult or if it's Indymac's system of process that sucks and is just making things difficult for us homeowners, but I'm really frustrated and can't understand why will they not give an extension and get the short sale done. I think they are just scamming people in order to get more money from these buyers that are coming into the market because obviously they don't care about the sellers. This is all a ripoff.
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