Tags:
It depends on the bank and the investor on the loan. Most banks want a P&S and some dont care if its signed by the seller or not and some want both buyer and seller signatures. Some approve with a letter of intent. What bank is it with? Most banks wont issue an approval letter until they have a purchase contract. The case here may be that it was previously approved. Some banks issue approvals that are buyer specific, in which case they want an letter of intent or P&S from the buyer. If they issue an approval that just says how much they need to net, then they dont care who the buyer is and you can close with that approval letter as long as its not expired and you are meeting their min net.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.