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10-09-2009, 01:38 PM #1
Renter
- Join Date
- Oct 2009
- Posts
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Short Sale (bank approved...)
Ok, I am now 50 days into my short sale and getting frustrated, normal I know as I had read up on short sales before starting. We submitted an offer 50 days ago and got a response from the bank (counteroffer). Which actually was less than what we offered but without the closing costs that we asked. At the bottom of the letter they sent us back it said ACCEPTED. I guess i was taking this as they accepted our offer but my agent keeps saying that there letter is a counteroffer.
My agent keeps telling me now we are just waiting to receive their contract with the "as is" addendums for us to sign. How long should it take for them to get us this documentation so that we can be under contract. Everything I have read has said the longest part is getting the bank to accept the offer on a short sale.
Any advice is appreciated and if you have further questions please ask...I am beginning to feel like i know more than my agent and theirs.
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Actually, contrary to what Mathew 1001 posted, some agents specialize in short sales, just as some are buyers agents only, some sell lake homes, some sell MFH, some sell commercial. And NAR offers training specifically regarding short sales.
To try to answer StraightXRS's question, it could be tomorrow or still many more months before you get an answer. Sadly, some banks are not very speedy when it comes to short sales. Keep pushing everyday for an answer.Mark Brian Silver Star Real Estate
Upstate South Carolina Real Estate
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