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Dear Short Sale Buyer, depending on the seller's type of loan, the Bank of America short sale process could take two - three more months for final approval.
I think you are on the longer side for approval then :)
If the sellers loan is FHA I hope whom ever is negotiating it is aware the rules for FHA deals are different. It has been a while, but if I remember FHA "qualifies" the seller for a short sale. This can be done even before the house is up for sale. FHA also sends out an FHA appraiser that will set the value of the property. If the seller can sell the property within a certain timeframe, at the appraised value, the seller will get a relocation allowance. Bottom line, the seller will get paperwork indicating they are approved to participate in the short sale and xxx is the appraised price.
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