I have a short sale offer and all necessary documentation ready for submission. Property has been forclosed on. What do I do with my offer?? - Does it still go to Equator ? Do I have to wait for it to be REO listed ? Would Recontrust accept an offer now ? Any suggestions or help wpould be greatlt appreciated.
Thanks
Barry
Tags:
I think you are going to have to wait for the REO....
I think you are going to have to wait for the REO....
Too many unknowns to really hazard an opinion. It could be days, or it could take more than a year. Some lenders won't turn right around and put a property on the market if they have other similar properties within a short radius. Others don't really care. Also depends on condition of the home (whether it needs to yet be trashed out, repairs made, property secured, etc.). In Florida, watch for a sign in the yard/window as the REO agents will post for it for THEIR buyers to see in hopes of selling it BEFORE it gets to the MLS. Slip the neighbor a couple of 'cookies' to watch it and call you when something happens....
Any idea how long it takes BofA to get it into the system ?
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