I’m wondering if this time line looks somewhat normal (in sarasota county), or if this is a lost cause? Things seemed to really stall out in November. I’m not familiar with all the terms, is there anything more that I can do to speed this along?
7/11 make offer on short sale home (25% below asking price)
7/14 seller says they have multiple offers
7/15 seller accepts our offer
7/21 we sign offer
8/10 seller submits everything to their bank
9/21 investor negotiator counter offers
9/30 we meet in the middle on price (22% below asking price)
10/24 keep hearing that we are waiting final approval from "investor"
10/28 told we should hear any day now...
11/4 sellers bank asked seller for most current bank statements, paystubs, etc
11/6 we were told it was in "final review"
12/1 Our agent keeps telling us that the title company says any day now
1/10 still waiting on the last step, “investor approval”
My agent said that there was only one mortgage and the PMI was settled. The original loan came from Busey Bank but I’m not sure who the investor bank is now. I was able to find that Cenlar is the servicer if that's any help. Is this time line normal or is this deal on the verge of falling apart?
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John - It looks like there was a disconnect between 10/24 and 1/10... If updated bank statements and paystubs were requested, that is legitimate, but it makes me wonder if it really went to the investor on 10/24. Often, more bank statements and paystubs are not requested after a file goes to the investor. See if the listing agent can escalate the file or request a supervisor.