Banks are much better now... make sure the listing agent has requested a postponement... they usually do not postpone until the day prior so it is a little nerve racking, but your chances are very good if the postponement was requested and attention was brought to the matter.
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Goo luck! and congratulations to your family for the home purchase!!!
The listing agent should show the short sale lender that you are very close to getting loan documents and closing the escrow so that they will postpone the foreclosure sale date. The short sale banks usually do not postpone sale dates until a couple of days before the date of sale. Good luck.
Sara Mehrpouyan CDPE
Specializing in Short Sale & Foreclosure
Direct phone 818-903-2040
Dre License #01712757
Listing agent must be pro-active to avoid foreclosure.
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It all depends on the loan, the investors, if it's a loan with Fanni Mae or Freddie Mac, etc, etc. Your agent would be the best to investigate this and ask the right questions to the negotiator. I've seen both ways due to the reasons I mentioned above. If you don't have an agent representing you, feel free to contact me directly. Good luck!
In my experience, if you have a short sale approval and a foreclosure date within that time period the bank will postpone the sale date. However, the short sale lender commonly can't postpone the date until a few days before. If needed, make sure the lead agent speaking to the bank on behalf of the seller requests a postponement.