Is there any way of knowing which bank is selling the home we have placed a bid on?

Asked by Shonatrese, Arlington, TX Fri May 15, 2009

There is a house we are bidding on that is listed as a "short sale". What's taking so long for the bank to let us know if our bid is being considered? It doesn't sound very short, it has been weeks!

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Bruce Lynn, Agent, Coppell, TX
Tue May 19, 2009
Sometimes yes, sometimes no, and sometimes really no.....

Sometimes there are investors behind the sceens that own a particular loan. You can figure out who the servicing company is, but not always the ultimate owner of the loan. So for example it may look like Wells Fargo is the lender and perhaps they were the original facilitator of the loan, but there is an investor behind that veil who actually is the decision maker on what they will take.
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Karen Shrock…, Agent, Dallas, TX
Sat May 16, 2009
What's the address? I can look it up and see if there's any information on the listing information or the tax records.
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Dallas Texas, Agent, Dallas, TN
Fri May 15, 2009
Short sale not a quick sale

Short sale where seller owes more on a home than mortgage amount , lender would agree sale for less than amount due.

Banks are overwhelmes, USUALLY if your sales offer within reasonable amount you receive a response of an accepted bid within 4 working days.

Where is your buyers agent, with all of our clients we recommend although submitted an offer keep searching for homes for sale, Drama not caused by buyer/listing agent from banks how slow process is .

National Featured Realtor and Consultant, Mortgage Loan Officer, Lecturer regarding Credit Repair
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