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No response from Investor(Capital One) on previously approved short sale

Posted by Pete Polombo on August 9, 2010 at 2:49am in Short Sale Discussions
The negotiator responded to us on July 7 and informed us that the file was approved with the MI company and is currently awaiting approval with the investor. This file had been approved back in May with a net to the bank which was $4,522 less than the current buyer's offer. I asked the negotiator what was taking so long and he said he didn't know why . He packaged up the file and resubmitted it on July 29. I then found out that it was reassigned to a new negotiator and now has only been with the investor for 4 business days. My buyer is a cash buyer and is about to walk. Is there anything that can be done or is there someone who can be contacted at the investor(Cap One) to speed things along with this higher offer than what was previously approved?

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Replies

  • Bryant Tutas August 14, 2010 at 12:22am
    It sounds like the file is being worked. Just slowly. With MI and the investor needing to approve the file it could very well take a few months from the time it was initially submitted.
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