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Submitted Offer 2 months ago now need address?

Posted by Elizabeth on July 18, 2012 at 12:09am in Short Sale Discussions
I submitted an offer on a short sale 2 months ago (GMAC) and just a few days ago the realtor called and told me they need my address, no problem I provided it, I thought it was on the initial offer, but after checking it wasn't. I'm just wondering why they need it, and why at this point, and not in the beginning.

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Replies

  • Elizabeth July 18, 2012 at 4:06am
    Thank you Jeff. Yes, the appraisal was done 5 weeks ago if I remember correctly.
    • Elizabeth > Elizabeth July 18, 2012 at 6:43am
      Thanks again. As far as I know the investor is GMAC. I've never been informed otherwise, but I may be wrong. I also know a title company was preparing a preliminary closing statement on Monday. I'm crossing my fingers for a quick response.
      • Jeff Payne > Elizabeth July 18, 2012 at 7:01am

        OK, that is one of the first things your agent needs to find out. The investor is the key to the short sale...  Probably not likely that GMAC is the investor, they are the servicer.  With any luck they are the investor because they are more likely to work with you because they are dealing with their money, not an investors money

    • Jeff Payne > Elizabeth July 18, 2012 at 4:33am

      You should be far from the start, once all tasks are completed in Equator you will get a fast response.  Who is the investor?

  • Jeff Payne July 18, 2012 at 1:25am

    It is most likely being initiated in Equator.  GMAC requires a package to be sent to them and then they open the file in equator.  usually once you get to equator, GMAC moves pretty fast.  Has a BPO or appraisal been ordered yet?

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