"APPROVED PRICE" smoke screen? - Short Sale Superstars2024-03-29T12:58:20Zhttps://shortsalesuperstars.com/forum/topics/approved-price-smoke-screen?commentId=3468065%3AComment%3A364128&x=1&feed=yes&xn_auth=noThanks so much for those answ…tag:shortsalesuperstars.com,2015-04-20:3468065:Comment:3641282015-04-20T22:06:29.285Zsean doughertyhttps://shortsalesuperstars.com/profile/seandougherty
<p>Thanks so much for those answers. I'm learning as I go along in this deal. I am doing what I can to determine if this deal is at all likely to go through. Since the listing agent is giving unclear information I m very unsure of this property's status.</p>
<p>What recommendations would you have for me in order to determine if this home had been approved at this price? And also anything else I can ask the listing agent to get a clearer idea of the time frame of this deal?</p>
<p> I have asked…</p>
<p>Thanks so much for those answers. I'm learning as I go along in this deal. I am doing what I can to determine if this deal is at all likely to go through. Since the listing agent is giving unclear information I m very unsure of this property's status.</p>
<p>What recommendations would you have for me in order to determine if this home had been approved at this price? And also anything else I can ask the listing agent to get a clearer idea of the time frame of this deal?</p>
<p> I have asked if the loan is held by Fanniemea of FreddieMac. (In that case everything would take longer because it would have to be approved by them as well.) Listing agent said not according to her knowledge. As far as she knows it is just one lender (suntrust mortgage.)</p>
<p> What is the difference of a "FHA short sale" and normal short sale and how do I find out which I am involved in? Are FHA short sales better, meaning more sure to go through? Are they shorter approval periods?</p>
<p> Again I am learning as I go along in this transaction. I have attempted to purchase a few short sales in the past. 2 out of 3 of them fell through. And my realtor at that time never gave me any information when I asked only answer I got to my questions was "All you can go is wait." I am hoping to get more educated this time around. So thanks in advance for information you can provide.</p> "The term pre approved short…tag:shortsalesuperstars.com,2015-04-20:3468065:Comment:3641242015-04-20T17:05:17.383ZKevin - Greenville, SChttps://shortsalesuperstars.com/profile/KevinMWillson
<p>"<span>The term pre approved short sale to me can be misleading which is why I never use say that. A short sale either is approved, has been approved in past, or isn't approved, circumstances are always changing and nothing is ever guaranteed. The closet thing to a pre approved short sale is an approval to participate per a "FHA short sale" as it tells you what they are looking to NET from the sale and It still isn't guaranteed to be approved."</span></p>
<p></p>
<p><span>100000%…</span></p>
<p>"<span>The term pre approved short sale to me can be misleading which is why I never use say that. A short sale either is approved, has been approved in past, or isn't approved, circumstances are always changing and nothing is ever guaranteed. The closet thing to a pre approved short sale is an approval to participate per a "FHA short sale" as it tells you what they are looking to NET from the sale and It still isn't guaranteed to be approved."</span></p>
<p></p>
<p><span>100000% CORRECT.</span></p> Depends on the servicer and i…tag:shortsalesuperstars.com,2015-04-17:3468065:Comment:3641202015-04-17T23:05:50.302ZBrett Goldsmithhttps://shortsalesuperstars.com/profile/BrettGoldsmith
<p>Depends on the servicer and investor. Most transactions you can expect to not get a copy of the BPO or appraisal from the mortgage servicer. They may of been advised of what the value came in or the bottom line verbally from the assigned representative. That is as good as it gets at times if they don't correspond via written messages.</p>
<p></p>
<p>The term pre approved short sale to me can be misleading which is why I never use say that. A short sale either is approved, has been approved…</p>
<p>Depends on the servicer and investor. Most transactions you can expect to not get a copy of the BPO or appraisal from the mortgage servicer. They may of been advised of what the value came in or the bottom line verbally from the assigned representative. That is as good as it gets at times if they don't correspond via written messages.</p>
<p></p>
<p>The term pre approved short sale to me can be misleading which is why I never use say that. A short sale either is approved, has been approved in past, or isn't approved, circumstances are always changing and nothing is ever guaranteed. The closet thing to a pre approved short sale is an approval to participate per a "FHA short sale" as it tells you what they are looking to NET from the sale and It still isn't guaranteed to be approved.</p>
<p></p>
<p>Brett@ishortsalenow.com</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p>