Jenniferlb44…, Home Buyer in La Grange, IL

We have a closing date of Aug 23rd and haven't signed a contract or been approved for an FHA loan yet?

Asked by Jenniferlb4488, La Grange, IL Tue Jul 23, 2013

yesterday I called on the house just to check the status and they said it was still available. How can it be if our offer was accepted? FYI this is a bank owned property sold as is. Not sure that makes a difference?

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After you signed addendum offer will be presented to multiple departments for approval. Once they sign off on it, you will get a copy. From that time they can take up to 72 hours to mark the property under attorney review so most people will not see it anymore.
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0 votes Thank Flag Link Tue Jul 23, 2013
Typically a foreclosure property will still be listed as "ACTIVE" in the MLS until such time as a contract has been finalized. "Accepted" (by the lender) is not the same as having an actual contract. And until you have a contract, your lender is not going to be able to process your loan. You should consult with both your real estate agent and attorney.
0 votes Thank Flag Link Tue Jul 23, 2013
You need to get with your real estate agent right away - sounds to me like you do not have a fully executed contract!
0 votes Thank Flag Link Tue Jul 23, 2013
I was told the offer was accepted. The Addendum A we signed had the closing date as Aug 23rd? They said after we sign that then we sign the contract?
0 votes Thank Flag Link Tue Jul 23, 2013
What do you mean by you haven't signed a contract? If you have not signed a contract to purchase the home and if the bank hasn't signed accepting your offer you don't have a contract.
0 votes Thank Flag Link Tue Jul 23, 2013
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