Even in that case his advice is amusing. Imagine a bank employee ( other than in house counsel, or vice president level executive ) giving any kind of promise or answer at all with an attorney present.
These questions kill me.
What kind of relationship do you have with your Realtor?
Did your Realtor explain the process of home buying and short sales?
The seller does not approve the sale the bank does and this can take awhile.
A real estate transaction is a legal binding contract and requires professional representation.
Your Realtor just need to follow up with the listing agent. The seller won't be able to approve your offer because
the house is in foreclosure so the lender will be the one who make decision on the approval of your offer or they will do the counter offer. Your Realtor has to cooperate with the listing agent in harmony to get the deal closed. At the same time your Realtor will help you to do research on the house. He or she can order the preliminary report so you can check the title and check to see there is any judgment or lien against the owner or property.Good luck
The lender cannot speak to another party until the conclusion of the foreclosure, unless given specific authority by the owner. A buyer's attorney, a buyer, a buyer's realtor....none have any right to any conversation with the lender and will be granted none. The owner's realtor cannot speak to the lender without written authorization by the owner given to the lender. Seattle must be different than here.
If even one of these answers aren't correct, then move on. You can ask your realtor to call everyday and they will get the same answer from the listing agent....'No response yet'. Go find a home that's actually for sale, or wait for this one to go into foreclosure and buy it then.
So the most important thing your agent can do is to find out the status of the short sale process with the lender.
There really isn't much your agent can do.
The seller has to complete a ton of paperwork for the bank proving that they can't afford the house. Once the bank believes them and has adequate documentation the bank will approve the sale. Things that can go wrong include, the seller can't/won't complete the paperwork, the bank employee doesn't trust the seller, the banks "BPO" (Broker's Price Opinion) suggests the bank can do better by foreclosing, the bank employee caseload being to big - and the list goes on.
As you have already heard, keep looking. If you trust your agent and if your agent believes that the seller & seller's agent are doing what they are supposed do then that's about all you can do.
Dilbeck Realtors, GMAC
Good luck. And just so you know I've closed a couple of short sales but it took a minimum of 4 months.
You, in the meanwhile, should be looking at the comparable sales to determine if your offer is in line with the comparable sales. Short sale prices, for the most part, are made up, they are fabricated. They are not real. If the listing agent did not list the home within the confines of the comparable sales, your offer doesn't mean diddly squat.