All Forum Posts by: Chris Tom

well I thought the broker/ real estate agent was or is qualified in short sales. My question is when the bank came back with their counter offer. And I agreed to it. Why does it have to go back to the underwriters. Why do they need to review the accepted counter offer? They did their work before they made the counter offer so with the offer on the table I accepted and shouldn't that be it? Why do they need to review it and send it back to the underwriters? Usually u give someone a counter offer they accept it and the deal is done.

good morning I have been involved in a short sale for almost a year now. In the end of sept I was contacted by the sellers lawyer and was told that the bank counter offered my offer. It wasn't a bad offer so me and my wife agreed. I received the amended paper work signed it and sent it to the sellers lawyer. Now I'm thinking that's it the house is gonna close soon so I'm running around all through oct getting faxing paper work to my Mortage broker thinking I'm getting a Mortage. Around a week ago I asked my broker when do u think closing would be they had no answer for me cause they said the bank hasn't accepted the price yet. I was furious and told them I signed it and faxed back the paper work the seller also did that. So my question is... Is that true I thought the bank approved the new offer cause they counter offered it to me so all I was thinking was that its done now they are telling me it went back to the underwriters. Is that possible and true? How long can that process take cause the last time it went to the underwriters it's took like four months fore to hear anything back. I truly thought it was all done with the sellers bank. Can they also take back their counter offer and send me a higher one? Any information or help would be great

Thank you

hello i have been in the process of a short sale for almost 6months now and i seen zillow just put it back up on their site how can they do that if i am in contract in it? what could be holding up the short sale i did everything they asked. could the realestate relist the property without telling me? its very tiring this whole process... im in long island new york

17 months is really not a good time line for me.

17 months wow......that's a long time idk why I'm gonna do. How long would it usually take to get back the down payment?

Hello I don't mind waiting its soppsoed to be a deal. Me my wife and 1year old kid are living in a studio. It feels like we are running out of room. That's the problem. It's a not so short I guess so this week The contract Is up

I like but what's a deal if I don't know that the bank is gonna approve my offer. If they told me they took our offer and accepted it then I wouldn't mind waiting around. But there's nothing to wait on cause thy dint approve my offer.

It's also in my contract to get a Mortage within 45 days how can I get a Mortage within 45 days if my broker won't process it untill they know that the bank approved the offer this way they know how much to make the Mortage out for.

Thank you I believe my lawyer said that its in the contract for the seller to get the bank to approve the offer within 90 days of the signing of the contract then we can pull out and that 90 days is wensday so should I wait till then.

Hello I have been involved in a short sale as of march the sellers bank did a BPO April and still haven't gotten a call yet telling me if they accepted the offer. Now I'm in no position to wait for six plus month and have the bank tell me they don't accept my offer. So my question is if I want to get out of my contract, can I get out of it and get my deposit back? What can I do to get my money back. Thank u for any information.