Okay, so the bank FINALLY says yes to our LOWER buyer appr on the short sale condo purchase we started back over the summer. We had been approved, all that, we think we are ready, and basically we are, (we are NOT doing FHA). We have til January 26th to close.
MY lender (broker) is making a decision as to whether that condo "can be financed". That is all fine and good, cept again, we have til the 26th, and I had thought that was done MONTHS ago, and I really thought by this weeks end we would have heard something. Now we are getting nervous (again). Last month (actually Nov) WE paid for the condo docs, so that info has been there for a while, and he also has a resale package.
My question is, if our broker says "this condo complex cannot be financed" can I go to the seller bank? We are just getting so tired of this. We have done everything on our end, paid for the docs, called our homeowers company, been approved and stayed within our amt, given all the paperwork, and really thought this was done. When no answer came by yesterday, we got really nervous. We got word that the seller bank accepted our lower offer the week before Christmas, so I would think, having the info, a decision should be here by now, but maybe I am wrong? Thanks again for any advice.
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Your lender should have known from the get go if the condo could be financed. It either can or it can't Changing lenders will probably not make a difference.
I truly hope this works out for you.