I received approval in July for a shortsale at 155,000, I had to get extension because they made COE too short and received another written approval for 155,000 with COE of 9/20/2010. during that time buyers appraisal came in at 152,000, also during that time, the buyers obtained a septic inspection that failed. The file was in underwriting forever, I told them to send the appraisal back for review and they were able to get the 155,000, this is an FHA loan so the underwriter required the septic to be replaced, the buyer put the money in escrow to cover the work and we were ready to get that done. However, we were getting past the 9/20 date. I started on the closing agent for the extension with all the explanations on 9/20, she kept inputing that offer has been edited. We were not going to start the septic work until the ammended approval came in with new closing dated. they buyers already signe their documents and everything. I got on the phone with BOA and they said the file was sent to negotiator for new closing date that was 2 weeks ago. I have been blowing up their emails and phones to get the answer. Well I just got that answer and they said investor wants 175,000 now for the property. How can that be with 2 written approvals for 155,000?
I have about had it with this crazy deal. I have sent both approvals for 155,000, the FHA appraisal for 152,000. Any body have another suggestion?
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