Asked by George, Emerald Isle, Glendale, CA • Fri Aug 27, 2010
My agent tells me that we're waiting for an extension on a short sale from BofA to proceed with closing the escrow. There's only 1st loan on the short sale property. We got the short sale approval about 30 days ago, got the property inspected, appraised by my lender, title insurance/papers ready and loan approved. To proceed with the loan documents, my lender is wanting to see a written extension of the Short Sale. There's a trustee sale on the property in about 25 days (9/20/2010). My offer is at or very close to the fair market value of the property. My question is: What's the probability of getting an extension for the short sale approval and how long does it usually take?
Thanks in advance for your response.
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