Buying A Home
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Short Sale Approval Question
Our offer on a short sale went to the bank, BPO was performed, negotiator assigned, etc. This morning the seller's agent sent a "short sale approval" letter from the bank, Chase, stating approval of the contract between the buyers (us) and the seller for $X (the price we offered!) and conditional upon receipt of certified funds on or before X date (this is the closing date, I assume). Is this all we are supposed to receive from the bank's end for the short sale approval? It asks for signature from our realtor, not us. Don't we need to sign anything? What about the original contract -- does it change in any way? Does this mean we are under contract now and are good to go to get our loan commitment and everything else underway? Sorry if this sounds silly but we are first time buyers and I think all the excitement is clouding my thinking!
Re: Short Sale Approval Question
Most likely you have a short window of when you have to close by so I would get moving on your mortgage, etc. Pull out your copy of your offer and see what the agreed upon window was for inspection, attorney review, etc. When you call your lender, attorney and inspector be sure to tell them that it is a short sale and you have a strict window to accomplish X, Y, and Z.
? ?????????! Z!
BFP #1 EDD 12/14/12, C/P 4/9
dx: DOR
Clomid + trigger + IUI #2
Everyone welcome.
? ?????????! Z!
BFP #1 EDD 12/14/12, C/P 4/9
dx: DOR
Clomid + trigger + IUI #2
Everyone welcome.
Good luck with the rest of the process!
? ?????????! Z!
BFP #1 EDD 12/14/12, C/P 4/9
dx: DOR
Clomid + trigger + IUI #2
Everyone welcome.
Can I ask- how long after your offer was submitted did it take to hear from the bank?
I put in a full price offer on a house (with HSBC) and am anxious to see how long it takes.