I MADE AN OFFER ON A PROPERTY THAT THE LISTING STATED "BANK OF AMERICA APPROVED PRICE REDUCTION". I THOUGHT THAT MEANT IF I PAID FULL PRICE IT WOULD BE APPROVED QUICKLY. WE OFFERED MORE THAN THE LIST PRICE. IT IS 110 DAYS SINCE THE OFFER AND FOR THE LAST 6 WEEKS WE HEARD THE APPROVAL SHOULD BE THIS WEEK. SEVERAL DAYS LATER THE BANK OF AMERICA FINDS ANOTHER HURDDLE TO JUMP. THE PROBLEMS ARE DISHED OUT ONE AT A TIME . I DON'T KNOW WHO IS AT FAULT BUT IN MY JUDGEMENT ALL THE PROBLEMS SHOULD BE LAID OUT INITALLY, NOT ONE EVERY 2 WEEKS. EACH DAY/WEEK THERE IS MORE TIME INVESTED AND THE REALESTATE AGENTS GIVE ANOTHER "DOWN THE ROAD" STATEMENT.
DO NOT FALL IN LOVE WITH THE PROPERTY AS WE DID. BE PREPARED TO CUT YOUR LOSSES AND MOVE ON.
How long has it been since you put in your offer?
Expedite the things you control and endure the parts you don't. Banks need a complete file to move an offer through the system. The biggest avoidable delays are caused by files missing items. To be fair, you can submit a perfect file only to have the bank lose some pages you sent.
Submit a complete file, confirm they have it and it is complete, re-submit any lost of missing items, repeat and pray as necessary.
I hope this information helps! Best Wishes!