On to the next deal...

or deals... we currently have 3 offers out there because it doesn't seem to pay to do one at a time. We put an offer in on a property (Ferber) 2 months ago and the darn thing still hasn't closed!  After we submitted our offer, for some reason, the bank came back w/an even lower price for the house, so we re-wrote the offer and got a few thousand dollars off! Sweet - we'll take it!  Next, the bank was getting sold, the asset manager who had our file left and they lost the file.  Next thing we know, the price on the MLS dropped $10k -- while we had it under contract!!  Good example of the left hand not knowing what the right hand is doing in a large organization.  No problem, we've still got a contract on the property, so well re-write our offer to reflect the discount.  

We've now got a home run deal instead of a single/double hit.  Which, is why after 2 months and we still haven't closed that we will not back out. Had it not been a home run, we would have moved on by now. It is frustrating because I have been off for 4 months and would have liked to have gotten another rehab done, but it now appears that as soon as I go into labor, the bank will finally come back w/the go ahead to close!  Oh, well - what can you do? Currently, the bank has a hold on all pending deals until they figure out which asset management company will be getting the property to handle the disposition. 2 weeks ago, we were told, "any day now!"  I've stopped asking when.

Now, we are making many offers and it will be a race to see which one we can close on.