Mandy, Home Buyer in Pennsylvania

I put a bid on a Deutsche Bank National Trust Owned home in Pennsylvania on Feb.2 2010. We agreed on a price verbally.Have been waiting to sign

Asked by Mandy, Pennsylvania Sat Apr 3, 2010

papers since Feb. My realtor and the bank realtor have had to resubmit papers several times because there is changing of the hands within the bank. The realtor assigned to this house is struggling to get responses from the bank. Is there anything we can do?

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Anna M Brocco, Agent, Williston Park, NY
Sat Apr 3, 2010
Unfortunately not much that can be done to speed the process along along--have your agent periodically check in to see if any progress has been made and that all paperwork needed is in place.
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Maureen Fran…, Agent, Birmingham, MI
Sat Apr 3, 2010
Not really. You can look on line to see if Deusche Bank has a link for directly submitting offers but I doubt they will respond any faster than they will to their own agent (who is probably doing his or her best to get this thing done.)

Unfortunately, your experience is not uncommon. There can be so many issues going on with foreclosure and the buyer has little control over the process, other than chosing not to participate in it and buying another home.
0 votes
Randy Rehler, , Austin, TX
Sat Apr 3, 2010
Since you do not have a signed contract you have no recourse. You can either walk away or keep resubmitting offers. Has your realtor talked with the other broker about a conference call with the bank representative. This could give you can some feedback on wether or not to stick with it. Also, I would be prepared for the lender to comeback with a counter offer that is not even close to your verbally agreed to price.
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