I sumbitted an offer on dec 31, 2009 on a short sale property in fla. On march 4 2010 I got a phone call from my realtor saying the bank approved the offer and expected to close may 4 2010. I asked for the approval letter and she kept saying it was coming soon. Then in April my realtor tells me it hasn't been approved completely. BofA was going to send the approval to thier investors to see if they approved of it. I was very upset given that we had a scheduled closing date that did not go through. It has now been 2 and 1/2 months since the offer was "approved" by BofA and I haven't really heard any news on the offer. There is no scheduled date, no approval letter, just days that pass by with nothing. I am very frustrated and would like to know if this type of situation is common with short sales or if I should be worried. I'm really hoping it will close soon!! Please any comments are appreciated.
Thank you
Linda
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Why does one sale go haywire and another one close? I don't even have a good answer, because I don't know myself. I'm thrilled when we close their short sales and not surprised when they change the rules at the last minute-to the frustration of all.