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Permalink Reply by Wendy Rulnick on July 10, 2012 at 12:17pm

Neo - If there was no approval letter issued, then you are not approved. You can ask for a copy of it, which might be provided to you. Barring that, the seller would have to remove his contingency for short sale approval.

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Permalink Reply by Neo on July 17, 2012 at 4:17am

hi Wendy,

i checked with the seller's attorney and he has got a letter from the negotiator from the bank. but he did tell us that he was not 100% confident that the deal will go through. he has a small doubt that the negotiator knows how much the bank is going to eat up.

am really confused. doesn it happen that once the bank gives a counter offer and an end date to close, the deal falls off??

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Permalink Reply by Jeff Payne on July 17, 2012 at 4:55am

Neo, ask the sellers attorney to send you the approval letter if he has one.  Why is he not 100% confident the deal will go thru?  Not sure what you mean by doubt the negotiator knows how much the bank is going to eat up?  What does that mean?  If the sellers attorney has an approval letter then they know exactly how much the bank will approve the sale for.

Where in the heck is your agent to answer these questions?

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Permalink Reply by Neo on July 23, 2012 at 6:10am

hi jeff,

i just heard from my attorney that the bank got a new BPO done and price is 10K higher than the counter offer. am just confused why would the bank order a second BPO?

also, do you think this deal is dead?

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Permalink Reply by Neo on July 17, 2012 at 5:21am

Hi Jeff, except my lawyer all parties involved are unresponsive To say the least. Sellers lawyer sent us a letter for counter offer on his letter head and on the phone did confirm that he did receive the letter from the bank. No idea where is this going. It been 7 long months :(

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