Post # 1
We put our offer in on a shortsale on the March 8th, the buyer accepted and now we’re just waiting on the bank. Our agent gave them until March 25th and that feels like an eternity!
Today the agent emailed me the progress and it still looks like we have a ways to go. They did a BPO yesterday and are now requesting more financial statements from the seller ( I suppose to show the financial hardship of needing to shortsale).
I don’t like the waiting game, but atleast they didn’t reject or counter right away.
Post # 3
We put an offer on a shortsale early Jan and we’re giving them until mid May. We’ve heard nothing, and we’re not expecting to for a while. It’s especially scary for me b/c I’m pregnant and would like to move before the baby comes.
I agree, waiting sucks!
Post # 4
Good Luck! We are house hunting right now too, and it is extremely stressful, we already lost 2 houses we had offers on. I hated waiting just 2 days for answers (we are sticking to traditional sellers).
Post # 5
@artbee:That’s frustrating! I couldn’t wait that long. I’m pregnant too, not due until October so I *think* there’s plenty of time!
@funkyone8604: If there were traditional sellers in this area that weren’t $100k over our budget that’s the way we’d be going to. This market is saturated with SS and BO homes. Annoying!
Our agent has been keeping us posted and they are definetely looking at the offer, I’ve gotten about 5 pages emailed to me to sign and look over regarding our offer. They say it’s still going to be a long process but they didn’t just look at our offer and laugh like the last bank. Ugh that was a nightmare.