I am the buyer on a short sale, it has been 162 days since contract was signed. The original deal price was $225K.
5/29 Original servicer transferred file to another servicer, but immediately took the file back. We were told the average servicing time is 60 days. A week later, the BPO was completed. We were told it would take 4 weeks to review the file. On 7/2, informed that the offer was submitted to the investor, they replied saying it would take 5 days for a reply. FM countered at $286. The lawyer on our case urged seller's to pay for an appraisal, which they did. The appraisal came back at $241K on July 28th. Lawyer sent the value dispute to FM on 7/29. We were informed it would take 7-10 days for a reply. On 8/8, we were notified that FM was reviewing the dispute, said it would take 5 days. 8/9, FM ordered a NEW BPO, which was done same day. On 8/19, lawyer advised that FM replied on 8/15 to the value dispute saying they would review and get back to us in 7 days. On 8/27, we were informed the negotiator had the results of the value dispute and would submit to FM, we had to allow 7-10 days for a reply. 9/3, original offer again submitted to FM. please allove 5 days.
It is now 9/11, we have yet to hear from negotiator, lawyer, seller agent, or FM. Can someone please help me figure out how to resolve this issue. Sellers agent/lawyer/negotiator are not getting back to me with answers. I am failing to understand why everyone is giving us the runaround on this SS.