How do I know if a short sale has been approved by the seller's bank.
I made an offer on a home in June. The closing date was set at 45 days
from seller's banks approval. In mid July seller's agent informed me that the bank had approved, so we set closing for Aug. 31st. My first loan was denied because the house is on leased land, and the lease did not conform to Fanny Mae rules. I filed for an extension of the closing date to Sept 23rd, after finding another bank that would deal with the lease. The 23rd came and the title company said there was no approval from the bank. Now I've been playing the waiting game, and the sellers agent keeps saying it will close in a few days. How do I find out if this thing was ever approved in the first place?
Didn’t find what you were looking for? Ask a question!