Realtor @ Charles Rutenberg Realty
Serving Chicago and Suburbs
'Helping Sellers of Short Sales Throughout Chicagoland'
I can better answer your question if I know some specifics - are you purchasing a BOA short sale or bank owned property or do you have a BOA pre-approval letter for the purchase of a home?
If you are purchasing a home that is a short sale through BOA, the seller must first accept the contract and then it is submitted for the lender (BOA) to approve the sale. This can take some time depending on the negotiators and the lender themselves in how fast the BPO and file moves.
If the SS has been approved by BOA, then you should be able to close as soon as YOUR loan is approved for the purchase.
Your agent, lender and attorney all typically try to work together to look after your best interest and to get the house to close as quickly and smoothly as possible.
The most I have seen, is an Addendum, which acknowledges some minor detail, and starts the proceedings.
The Banks are reluctant to have a human being sign a document.
And, how do you know that they ACCEPTED your offer if you do not have some kind of document?
Good luck and may God bless