Blog

here is my horrer story...

2 banks were involved, placed an offer on october 2009 on this short sale property. this property was orginially in the market as a short sale from june 2009,

at one point 1st bank ordered a BPO ( internal), and 3 weeks letter they ask us if we close in 4 days ( that was end of april 2010). we were not ready, however at the same time first bank reealize that there is 2nd bank involved.. i am not sure why sellers agent did not work with 2nd bank before??

anyway, finaly we negotiate with 2nd bank and got ther approval which is good until end of the month.. they might extend it.. when we got the approval letter from 2nd bank we provided it to first bank and ask the approval from their side ( remember, at one point they wanted us to close in 4 days, however, at that time they did not gave us an approval letter).. it has been 3 weeks since we are pleading first bank to give us an approval ( at that time the negotiator ask our ( buyer) finiancial statement and check if the seller has any other loans ( which i belive he has none) and we realize that last week they completed seconed BPO ( internal). which was done on sunday.. ( On top of that the negotitor of the first bank had no idea about this BPO, so i guess some intertnal department of bank orderd that)

now how long it will take to get the approval from the first bank? or will they approve or not??

in this case what should i do to expediate this sale?

what can my agent ( buyers agend) should do and what can sellers agent needs to do to get this thing done?

i feel like i will have heart attack.. it has been more than 9 months.

help please.... belive me i am dieing but at the same time i am thinking i have spend more than 9 months waiting for this? should i walk away?

help please