So I've been waiting to buy a Nationstar Short sale for a few months. I submitted an offer to the sellers on 7-31-15 and they submitted to their bank sometime in the middle of August. and we got a counter offer at the end of October. Per Nationstar, we completed a new Purchase agreement for the new price. That was on 11-5-15. It sounded like we were going to be getting the approval letter soon, but today we were told they were sending the BPO agent back out to get interior photos of the house. Is this just for their file and we can expect our letter soon or is this an indication of an imminent train wreck?
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Susan,
I hope this finds you well. Most values are usually good for 90 days from the date they are sent back to the bank. If your value was obtained at the end of September you should be good until the end of December at least. Do you know what the value came back at? Is the offer in the ballpark?
We work with Nationstar on a daily basis, you are lucky they are not putting you through their auction program. If you have any questions please do not hesitate to reach out.
Alexandra
I was not told what the BPO came back at, but I assume it was in the ballpark since they gave us a price they wanted when they countered. I really am just hoping that we can get this letter soon so we can close in a timely fashion.
When was the last value completed? Did it expire and now a new value is going to be completed? If it comes back at a higher price that could become an issue depending on the circumstances.
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com
The last BPO was done at the end of September. Is that too far away?