short sale buying

[LoveTrains]

I am getting tired of waiting from the bank to hear about my short sale offer. That is all. I really want to know one way or the other what the deal is!

[KaraOrNot]

How long have you been waiting?

[LoveTrains]

Jul 29, 2012 19:36:14 GMT -5 @songforyou said:

Good luck! I remember that you are a fellow upside-downer. I hope you are able to leave the club soon.

Hahahaha I wish.

I am actually trying to BUY a short sale, not sell my 1 br/1 ba condo. I will still have that.

So the seller did accept our offer, and we put down a deposit that is in escrow, etc. But then they have to package it up and submit it to the bank. So we are waiting to hear from the bank. The good thing is that the seller is not allowed to submit any other offers to the bank during this period, but I am still feeling impatient. We have only been waiting for a month which I know really isn't long at all.

Our agent says we may hear something next week as BofA has gotten really good about moving stuff along in about 30 business days.

[sillygoosegirl]

I feel your pain. We've been waiting to hear on our short sale for over 3 months already. It sucks. :-(

[cgpm]

We bought a short sale from BoA and we heard in about 4 weeks. Hang in there - it will be worth it!

[mbcdefg]

I'm sorry that you're frustrated. Short sale-buying is one big giant pain-in-the-ass waiting game :drink:

We had planned to buy a short sale house but gave up after six months because we got nowhere with it. It turned out for the best, though, because we found another house for sale (not a short sale) almost right away and it's turned out to be a much better building/neighborhood than the short sale we almost bought. We were SO pissed during the whole short sale process but in hindsight it was such a blessing that it didn't work out.

On the flip side, our friends decided to buy a short sale house, and they had closed and were moved in by the three-month mark. It's a huge house and they seem really happy with it.

It's such a crapshoot - MH and I are big planners, and the unpredictability took a toll on us but ultimately it worked out for the best. Hang in there!

[LoveTrains]

Well I just heard that supposedly the BPO was completed two weeks ago and we should hear something this week. Fingers crossed.