It had nothing to do with the LISTING PRICE or the SELLING PRICE, much less YOU>
The Offer still had to go through the process, and there was no guarantee that the Bank you approve the sale. This is normal.
You have to be patient.
Buying a short sale can be a very lengthy experience. Some of the things that can slow down the short sale process are: 1)if the listing Realtor is not familar with short sales, the process will be very lengthy as banks are very specific about their requirements and time frames. 2)the current seller must cooperate in order for the short sale to continue to move forward. If the seller does not cooperate in a timely manner, the listing Realtor may have to start the process over numerous times. Hope this helps.........if nothing else it will afford you the opportunity to ask your Realtor the questions posed in this post. We wish you all the best. Feel free to reach us at (908) 912-5298. In the event we are on the phone, please leave a voice mail and we will return your call promptly.
Unfortunately, there isn't a science to what how the lenders are accepting offers. Even cash offers are taking a long time... Before you hear anything.
Hang in there.
Have a great day;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Retired Mortgage Banker
Good luck and best,
Unwavering Commitment to Service, Unsurpassed Results