Here are the questions to ask the listing agent.
Have the following documents been submitted to the bank, from the seller & listing agent
Sellers Hardship Letter
3 Months Bank Statements
A Current Market Analysis for the property (BPO)
Authorization letter for the agent.
Copy of the listing agreement.
After this it is the listing agents responsibility to call the bank one time per week.
Two Important things to know
Did your agent write a clause into the contract that the seller agreed to accept and submit only your offer?
Is there one lien or two? (This takes longer) The banks need to negotiate this out.
There are other factors but these are the basics.
Banks are not in the business to own property they want to move them. So just hold on and I am sure you will get a great deal.
Dawn Marie White
Broker-Manager-Sales Professional Crossroads Realty Inc