Mrsg

You have to show a purchase agreement or go to the district to get a transfer. - Thu Aug 20 2009, 08:56

Hi MLwhaley, Just wanted to give you an update on our short sale that I wrote about. A full blown appraisal was completed last Wednesday Aug 5th. We normally get updates on Fridays. No new news as of today. This is so crazy. The sellers realtor already called the CW to tell them we "the buyers" are ready to walk, CW told him to tell us to hang in there!... Really 4 months and they are saying "hang in there!" I hope you are making progress with your short sale. - Fri Aug 14 2009, 17:14

Hi again, We heard that CW is ordering a second appraisal which should be completed by this Tuesday. Every time my realtor gets and update or not, she still calls us to keep us updated. MLwhaley, what has your agent told you? - Sat Aug 1 2009, 15:13

Ms. Zavala, Do you know how long it takes for the investor to approve? - Thu Jul 30 2009, 20:46

Hi again,
We heard today that CW/BofA called the sellers agent to ask for two updated forms, one was our purchase agreement. My agent stated at least we know someone is looking at the file. So hopefully tomorrow we will have a better update :-) We also found another home yesterday, a REO, but we ended up backing out of the offer because the taxes were way too high. Good luck to you too! - Thu Jul 30 2009, 19:56

As far as I know, there are 3 stages with CW. But again, who really knows. I was told by my agent stage 2 can take up to 30 days. If we don't get an update this Friday, I will seriously start looking again. It is very frustrating! We honestly thought we would have an approval by now. - Wed Jul 29 2009, 21:11

I placed an offer on a short sale with Countrywide on April 18th. Last Month, June they did the appraisal. We were told on July 3 that our file has been assigned to a stage 2 negotiator. Here were are 1 month this Friday and we haven't heard a thing. Also even if you get a verbal "yes" the bank can still do whatever they want like sell it in a auction. Until you see something in writing, I wouldn't get too excited. I hope your agent is taking you to see other homes... I also have a friend who purchased a short sale and it took her 6 months to get a yes and then another 60 days to close! Good luck - Wed Jul 29 2009, 20:39

Hi Yumika, We placed an offer on a short sale on April 18. Countrywide/BOfA is the sellers bank. They ordered a BPO in June. Here we are Aug 5 and an appraisal was completed today. Hopefully the appraisal will get back to the bank by Friday. Hopefully we will have some kind of answer by next week. Aug 18 will be 4 MONTHS!!!!! But this is really the home of our dreams and is priced well. My realtor updates us every week whether they have news or not. My realtor has also been showing us other homes but no luck... If you can wait and this is really a great home for you. I would wait. - Wed Aug 5 2009, 21:13