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Offer Analysis

Posted by Kristen tateosian on May 16, 2012 at 6:05am in Short Sale Discussions

Hi Short Sale Superstars,

You have all been so helpful with all my questions I appreciate it. Our offer is now in the "Offer Analysis" phase on Equator....From your experience how long should it take to get the Approval letter from this point? We have the HUD-1 now and all we are missing is the approval letter. Bank is B of A...I am the buyer!!!

!

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Replies

  • Wayne Brooks June 28, 2013 at 4:41am
    Kristen, not trying to be non productive or critical, but whoever is negotiating this should have been aware of these liens, and working on them, from the beginning. They shouldn't "pop up" at the end.
  • K C June 28, 2013 at 2:18am
    Hello,

    We are in the offer analysis stage as well. When your status changed to "offer analysis" did you receive a counter offer before being sent to the investor? We have been in this stage for probably a week and still waiting to hear something. The bank set our closing date to July 10th but not sure if that will happen since we haven’t heard about approval.

    Thanks!
  • Rick Maron May 22, 2012 at 2:40am

    Hi, I am at the same stage you are, have you made any more progress in the last few days?

    • Kristen tateosian > Rick Maron May 23, 2012 at 4:22pm

      Rick,

      We actually got the short sale approval letter on Friday. The closing date says June 5th but we don't think it will happen because she has tax liens against the house that she needs to have removed. Hope you hear something soon!!

      • Tamara Vannest > Kristen tateosian May 25, 2012 at 4:00am

        Kristen - glad to see you are making progress! 

        • Kristen tateosian > Tamara Vannest May 26, 2012 at 6:31pm

          1 step forward.... 2 steps back....Closing dated extended to July 2nd by bank to allow seller to have  federal/state tax liens removed....is this ever going to end????

  • Keji Ogunleye May 17, 2012 at 9:03am

    It depends on your negotiator and investor.. I had one in offer analysis for almost 2months..., I had one in the stage for  less than1 week, and I have one right now that just got into that status and the negotiator informed me that she sent the file to QA for final review will take 48-72hrs

  • Mike Rosania May 16, 2012 at 10:30am

    Did they agree to the offer price? My most recent transaction took about 3 weeks to get written approval from that point with a verbal agreeemnt from negotiator regarding the price (net). It really depends on investor, mine is a Fannie deal with no MI.

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