Asked by Ca_buyer, Los Angeles, CA • Fri Feb 18, 2011
I put an offer in on a "bank-approved" short sale on January 20th. It was signed by the seller the next day. I'm not sure exactly when the short sale package was presented to the bank (BofA) - I think the listing agent needed to get an updated HUD-1 from the seller - but have confirmation that the package was with BofA as of February 9th. This is supposedly a HAFA sale.
The listing agent said to my agent earlier this week that she has been in touch with the negotiator and expects an approval "very soon".
The listing expired yesterday. What does that mean for me? Does my offer package now get automatically declined and the property move into foreclosure?
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