Question Details

House Hunter, Home Buyer in Detroit, MI

Does "SHORT SALE PRE-APPROVED LIST PRICE BY LENDER" meany that you will not have that long waiting process?

Asked by House Hunter, Detroit, MI Wed Nov 21, 2012

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Do you believe whatever a saleman tells you? How about a Bank?
This may have been true and valid when it was said;
It isn't in writing, from the Bank, is it?
It may have been a verbal agreement between two non-decision makers.
It may have been said in JUNE, and things have changed in the interim.

You may hang on any words you wish;
but you'd better be prepared to have a long wait; that is the nature of Shortsales.
What good would this quote do you in 90 days, if you still do not have a response from the Bank?
1 vote Thank Flag Link Wed Nov 21, 2012
Usually if the bank has already pre-approved the price the process goes fairly quickly.
1 vote Thank Flag Link Wed Nov 21, 2012
That's what we all hope it means and what the banks have told us. Most of the time it makes the closing process about the same as a "normal" sale.
1 vote Thank Flag Link Wed Nov 21, 2012
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