Seller accepted my SS offer on June 13th and submitted to Everhome Mortgage. There's a person assigned to the case. What's next?

Asked by dannabui, Salt Lake City, UT Tue Jul 23, 2013

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Colleen Chatoff’s answer
Colleen Chat…, Agent, Napa, CA
Thu Jan 9, 2014
I just received my SS approval letter from Everhome today 1/9/14 on a purchase agreement signed in March 2012!
You just need to wait for the process to move in it's own good time, if you are in a hurry don't go into a SS contract.
Good Luck
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Jul 23, 2013
I am sure that your Realtor has said this to you, and I am going repeat it and reinforce it:
If you are impatient, you should not be entering into a Shortsale.
If you are going to make life miserable for your Realtor by calling them and pestering them for the latest news; you should not be entering into a Shortsale.
If you cannot do these things, then do yourself and your Realtor a favor by getting the heck out!

There is NO NEXT!
The next word you hear may be six months from now!
Get used to it!
0 votes
dannabui, Home Buyer, Salt Lake City, UT
Tue Jul 23, 2013
Here is more info about what I am asking above...


Seller accepted my SS offer on June 13th and submitted to Everhome Mortgage. My agent told me today 07/23/13 that they have a person assigned to the case and that everything was in, now we are waiting. What does that mean? Is the person assigned a negotiator? I know the seller is desperate to get the home sold ASAP. And what should I expect to happen next? The process and how long will it take? Please advise,


Thank you for you help and answers. I really appreciate them!
0 votes
The person assigned may not be the negotiator. Some banks have several steps they go thru. Having the SS package assigned to a person is the first step. They will go thru all the paper work and request a Brokers Price Opinion to see if the offer is one they will accept. They will also ask the Seller for many more items. After all the items requested are in they usually assign an negotiated. The negotiated goes thru the package to make sure everything is in order then presents the package to the investor. That being said all banks seem to work alittle different but thats the basic chain. It could take 30 days to 6 months to get an approval. Be patient.:)
Flag Wed Jul 24, 2013
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