File assigned to negotiator at Countrywide 5/8/09

Asked by Ks, San Diego, CA Mon May 11, 2009

What exactly does the negotiator do with my file? How long will this process take? Offer was submitted to bank (countrywide) on 4/9/09. I received confirmation on 5/9/09 that my file was assigned to a negotiator at Countrywide. What happens now?

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Katrina Hami…, Agent, San Diego, CA
Mon May 11, 2009
BEST ANSWER
Dear Ks,

It is now up to the seller/seller's agent to provide the bank with the necessary documentation on the seller's behalf in order for Countywide to review and approve the "short sale" of this property. You may have a seller's acceptance, but the seller still needs to work with the bank to negotiate the actual sale. It is a process and can be lengthy; you'll need to exercise patience and/or in the meantime continue to look for other great deals. Hope the information is helpfule.

Sincerely,
Katrina Hamilton
Direct: 858-405-4407
Web Reference:  http://www.downtownREOs.com
1 vote
Jeffrey Doug…, , San Diego, CA
Mon May 11, 2009
This is good news that you have someone assigned to your file. However the process is very slow and you have to understand that these negotiators and asset managers are dealing with a large volume of files (homes).

The negotiator is the one that puts the deal together between you, the Seller, and the Bank(s).

Speak to your Agent to have him or her keep on top of the process and know that sometimes these can take up to 6 months.
1 vote
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