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Buyer007, Home Buyer in

Short sale with WAMU

Asked by Buyer007, Thu Jul 31, 2008

i just placed an offer on a short sale property. WAMU is the lender (both promary and secondary loan). How long on the average WAMU takes to close deal (if any). Appreciate help on this, just don't want to dragged onto this for indefinite period of time

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forgot to mention, I'm the only buyer for the property and seller agent sent the offer to the WAMU couple of weeks back and WAMU asked for HUD-1 and deposit money to put on the TITLE and both HUD and deposit is put ..
0 votes Thank Flag Link Thu Jul 31, 2008
GREAT QUESTION: If you placed an offer without an executed agreement the listing agent should be able provide some idea on the time whether or not if your offer is part of a bidding war. Short sales use to take 30 - 45 day it can now take up to 60 days, The banks are overwhelmed with the foreclosures and short sales. I would recommend to keep looking just incase your offer is not accepted. Many of our clients are submitting multi offers we dont know the time response, bidding war and etc.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Jul 31, 2008
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