http://www.trulia.com/voices/Home_Buying/In_a_short_sale_can_the_bank_offer_verbal_accepte-132949en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-Boca_Raton_FL-269773/http://www.trulia.com/voices/profile/Real_Estate_Pro-Boca_Raton_FL-269773/Hello Julie, Both Nadine and Dana are correct. Unless it is in writing, then it isn't a done deal. And in our business, until we close, it isn't a done deal. Anything can happen like a re-evaluation of a borrowers credit worthiness or a re-appraisal, etc. . . I had a written offer on a Short Sale just recently for my buyers and after almost 6 weeks (not bad, really), the bank returned with a verbal offer. When asked if they can provide it in writing, the other agent offered to send us an e-mail coming from him. Unfortunately, there are so many scenarios and situations occuring every day, we don't have uniformity or common practice from any/all the lenders or financial institutions. It is a crazy and exciting market which is why one needs to hire an agent who is both professional and aggressive. Nothing happens by sitting around and waiting and the waiting game can become somewhat frustrating, to say the least. In summary, make sure your agent requests and gets a written acceptance w. signatures on the original Sale & Purchase contract because it will otherwise not be valid. I hope that this helps and if you require any further questions, please don't hesitate to contact me at your earliest convenience. Have a great day. Best Regards, Stelios Stylianou, Realtor® Marketing Specialist Realty Associates Florida Properties 261 E. Palmetto Park Road Boca Raton, FL 33432 (561) 542-4131 stelios@stelsells.com http://www.stelsells.com "Your Home, Your Future!" "Your Real Estate Consultant For Life!" http://www.StylianouGroup.comFri, 12 Jun 2009 05:55:40 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Boca_Raton_FL-275904/http://www.trulia.com/voices/profile/Real_Estate_Pro-Boca_Raton_FL-275904/Hi Julie, In my experience when the bank makes a verbal offer they then follow it up with written documentation spelling out the details of the deal. I've had the banks send the written details in as little as a couple hours or as many as two days. If they agreed verbally, I don't understand their reasoning to then deny the sale. Nadine Mauro Regency Realty Services 561-414-0864 NadineMauroRE@yahoo.comThu, 04 Jun 2009 13:10:20 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-70461-250734/http://www.trulia.com/voices/profile/Real_Estate_Pro-70461-250734/There is no contract until the offer is signed by both parties. A verbal acceptance has no legal standing.Thu, 04 Jun 2009 10:38:03 -0700