Waiting Nationstar shortsale approval letter after auction.com didn't find winning bid

Hi,

I am buyer of one of the property listed in Jacksonville, FL. This property's is in short sale.

Nationstar asked seller to put the property in auction.com and then only they can approve the short sale.

Seller signed the addendum for listing the property in auction.com. The property went to auction.com from 17 November to 20th November. Auction.com didn't get any winning bid and they replied to Seller that they can resume short sale with current buyer. Seller has provided everything needed to close the short sale to Nationstar but seller haven't got any approval letter yet from them.

My question is once Auction.com is done from their bidding and they didn't find the winning bid after that how much time Nationstar is needed to approve the short sale?

Please let me know your experience if you have any like me.

Thank you,

Ashish

Views: 113

Replies to This Discussion

I work for a large firm here in Jax,  and have one listed and the auction will be in a few days. So, we are in this "process" as well. We were not given a timeframe for your scenario other that "shortly thereafter".  So I will be curious as to the comments from those that have been through the "process". 

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