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Updated over 10 years ago on . Most recent reply

User Stats

56
Posts
11
Votes
Naseera Mohamed
  • Jersey City, NJ
11
Votes |
56
Posts

Bank approval in a short sale

Naseera Mohamed
  • Jersey City, NJ
Posted

It has been 80 days since I made an offer on a short sale house. I have a 90-day contingency for the bank to give an approval. I feel the seller is playing games with me. About a month back , her agent told mine that the short sale has been bank-approved. But later when my agent wanted to see the approval, she dismissed it and we found out it was only a receipt from the bank for the seller's documents. 

Now that we are close to the 90 days being up, her lawyer sends a mail saying Bank approval has been obtained, and we are to proceed with obtaining the mortgage etc , but no proof  or copy of the approval in the mail. I feel this is just a mind -game he is playing to keep us interested and away from looking at other properties . I am thinking of looking at other properties this weekend as it would be less than a week from that , that my contract period would be up. I figured even if a real bank approval shows up, I would have my Attorney Review  period to back out of any other offer I make Any opinions in this regard? 

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