Hi, Last tuesday my realtor and I sent in a short sale offer to a bank in OH property in MA
They first told us they recieved the fax of all the information they needed from the homeowner, but they did not reciveve our intent to purchase, this was after the week time frame we gave them lapsed. So we joyfully faxed our information over again. The homeowner followed up today with this bank, for some reason they have keyed into their computer that they received an intent to list not an intent to purchase, which we obviously know is not what we sent, they also asked the homowner for another proof of income because they couldnt find the one that shne initially sent...so tomorrow we shall call them again to see if there computer has been updated...The homeowner finaced around $173 5 years ago during the markets hey day, they tell her her pay off is $182 we are offering $150 is this in anybodys opinion a complete waste of our time and stress? It is next door to my family and the home is perfect for me, but shuld I move on r
Hi Jen, Short sales take a good amount of time to administer. Typically, it takes 3 weeks before I receive confirmation that the lender has a complete short sale package. You are doing the right thing by following up -- that is all you can do. Don't drive your self nutty though -- call once or twice a week only. Short sales are a marathon not a sprint. Check out my article of short sale purchases: http://santamariarealestateblog.com/2008/03/09/the-short-sal…
Good luck, Tni
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