Home Buying in 20166>Question Details

Lv, Home Buyer in Ashburn, GA

We made an offer on a short sale house. On the property listings, the property is now listed as cntg/ no ko.

Asked by Lv, Ashburn, GA Sat Mar 7, 2009

We have received the letter from the second bank but no one seems to be able to tell us why we have not gotten one from the first bank yet or when we will. It's been almost two months now. Any advice?

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Answers

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If the seller signed the offer the status in the computer should have changed to CNTG/NO KO or CNTG/KO at the time the offer was accepted by the seller.

If you are the buyer why did you receive a letter from the bank? The bank would be working with the seller and their agent to keep them informed on the status of the short sale package. You need to be in touch with the agent representing you and if you worked directly with the listing agent then you need to call them. Unfortunately short sales do take time and cause confusion. Each lender works differently.
Web Reference: http://varealestatetalk.com
0 votes Thank Flag Link Sun Mar 8, 2009
Dear LV,

I know this is frustrating, but this is the scenario with short sales. If you are being represented by a Realtor, have they tried to see why you have not been contacted?

Good Luck!
Yona Bello
Web Reference: http://www.YonaBello.com
0 votes Thank Flag Link Sat Mar 7, 2009
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