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Hello all.

I was wondering if anyone has experience with Citi Mortage. I am a buyer and put an offer in on a short sale home in March (St. Petersburg, FL). A BPO was ordered from Citi in the beginning of May. After it was returned, they said it was not sufficient and ordered a full appraisal shortly after the BPO.

It has been nearly a month since that was done and I've been informed from my agent that the Sellers have submited all paperwork requested by Citi.

I have a few thoughts...

1) Why would a BPO come back "not sufficient"?

2) If anyone has any insight into how cooperative Citi is or how long they typically take to make their decisions, please, share your stories.

3) The contract submitted had a request close date of July 6th - does Citi take this into consideration when making their decision (time wise)? After all this time, we're a lot closer to July 6th than I thought we'd be when this process started with still no answer.

Some additional background: Citi is the only lender for this property. Fair market value for the home is 92k, it was listed at 88k and I put in an offer for approx. 93k if the lender would help out with the closing costs.