If you are making offers on a regular basis on short sales, you might see this on a regular basis.....submit offer and then wait and wait and wait. What if the offer is accepted 3 or more months later? Is it still a good offer for me? In some cases, it might be, but you need to do more due dilligence and have some clauses built into the contract that leave you a door to exiti if needed.
In some area your original offer might be fair market value now. It will not work for you if you are wholesalign the property. If this occurs, I wold recommend revisiting the fair market value for the home in the CURRENT market and see if the numbers still work for you now. Even if you submit and offer at 70% of FMV and it is accepted 3 or more months later, the market could have dropped that much or even more. Get an agent to pull sales comps in the surrounding area for homes similar to the prospect property and then figure out the cost per square foot right now.
Just make sure the numbers still work right now!!! You might need to counter offer on the accepted offer and see what happens then.
It is never worth your time to try to make numbers work on a deal that just doesn't make sense, even if it is your first deal. There are plenty of deals out there keep hunting.
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