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Updated over 12 years ago on . Most recent reply

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Chris Tom
  • Woodhaven, NY
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26
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Short sale question

Chris Tom
  • Woodhaven, NY
Posted

good morning I have been involved in a short sale for almost a year now. In the end of sept I was contacted by the sellers lawyer and was told that the bank counter offered my offer. It wasn't a bad offer so me and my wife agreed. I received the amended paper work signed it and sent it to the sellers lawyer. Now I'm thinking that's it the house is gonna close soon so I'm running around all through oct getting faxing paper work to my Mortage broker thinking I'm getting a Mortage. Around a week ago I asked my broker when do u think closing would be they had no answer for me cause they said the bank hasn't accepted the price yet. I was furious and told them I signed it and faxed back the paper work the seller also did that. So my question is... Is that true I thought the bank approved the new offer cause they counter offered it to me so all I was thinking was that its done now they are telling me it went back to the underwriters. Is that possible and true? How long can that process take cause the last time it went to the underwriters it's took like four months fore to hear anything back. I truly thought it was all done with the sellers bank. Can they also take back their counter offer and send me a higher one? Any information or help would be great

Thank you

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