Replies to This Discussion

Permalink Reply by MeLisa Minter on August 21, 2009 at 6:07am

Bryant, do you suggest waiting until you have an offer to fax in the entire short sale package? or to go ahead and get the seller's info submitted without an offer, just so everything can be in place? Let me know your thoughts.

Permalink Reply by Bryant Tutas on August 21, 2009 at 6:11am

Absolutely! Always send in a complete package including a signed contract and HUD

Permalink Reply by Jared Hokanson on August 26, 2009 at 4:54am

Bryant,

I am working on 10 BofA transactions right now and decided to try one where we submitted the sellers paperwork without an offer, it has already been assisgned to a negotiator. We normally wait until an offer has been received as well. Have you had any experience where you tried to send one in before the offer? We were pleasantly surprised to find that the file without the offer was assigned before several of ours that have an offer and a complete package.

Permalink Reply by Andrea Mills on August 27, 2009 at 12:38am

I can beat that. I had one with Bank of America that got approved 21 days after submission. 2 days after that, the buyer's loan officer informed us that he no longer qualifies for the loan he had applied for because he went furniture shopping for the new home. We "could" have closed this one in 40 days. We had a new offer a few day later, approval took 2 months and it has closed.