I have been dealing with this sale since March. I think we are almost there; latest from Equator says "Your counter-offer has been approved, subject to senior management approval". Can anyone tell me what exactly this means and when we should have a final answer and be able to close.
Any feedback is greatly appreciated.
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Sounds like you are close to full acceptance MJ. The negotiator just needs to get "management approval" and you'll be all set.
FYI: most negotiators I've dealt with don't even "formalize" this step. They just tell you they've got to get "management approval".
Once at this point, you should only be a few days - a week at the most - from the Approval Letter!
Good luck!
Yep, as Joyce says, it means CYA, "I could be just fooling". I've had several counter my AGREE to their counter. I had one counter his own counter w/o me in the middle. Considering how frequently they don't bother to read what is in the library or what the seller has put in, it is very easy to believe that they didn't read those investor guidelines too well and someone later comes in and says, gee, what about this $50K need over here?
So, it means "I'm an idiot and when someone with 3 brain cells looks at this, they may throw it back asking for something more"
You do not have an agreement or approval until you can see it right in front of you. I had a negotiator overdue in simply sending the approval. One of those BofA ghouls of the night came over and hit DENY. That was it. Dead. Resubmit. 2 months later - buyer gone of course. So, even when they are past the point of the counters, even if they say they are sending the approval, until you have it in your hands, with BofA, you DO NOT have an approval.
Hi MJ,
I am the buyer of a Short Sale and received the letter you reference above on August 31. I am curious if you have heard anything on the Final Approval yet. I am getting anxious as I have sold my current house and have to be out soon.
Thank you for your time.
Bryan
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