As a prospective buyer of SS, can I call the SS bank?
I posted some about this the other day, but we put an offer in on a condo back in July. Didn't start hearing from the bank (citi) til Oct. In Nov, they approved our offer, then of course, our lender does (another appraisal) , as 3 months had long since gone by. It UNDER appr 7,000. So we are back to waiting, it is so frustrating, as we had our long awaiting "yes" answer, and now.....who knows when we will hear. My question is, can I call Citi? I would not ask for any personal info on the seller side, but just if I can know where the file is, or receive e-mail updates or something? Maybe I am way off base, or maybe its SS stress, but we waited so long, then everything was good, and only to have that low appr. I would like some communication, if it possible. Has anyone tried this? THanks in advance.
Lauren
Replies to This Discussion
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Permalink Reply by Wayne Brooks on
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The bank will not/can not talk to you. The best you can do is to talk to whoever is negotiating the short sale on behalf of the seller. You want specifics as to where you are, what obstacles there are on this particular file, and what's next.
Best of luck.
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Permalink Reply by Bryant Tutas on
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You would need a written authorization signed by the borrowers to be able to speak to the lender. But the reality is I doubt the seller will want you speaking to their lender.
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Permalink Reply by Kelly W. Maynard on
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The listing agent negotiating the short sale should be updating your agent as to their progress, etc. If your agent is not getting timely updates, she needs to be calling the listing agent and ask for weekly updates. Your agent should be in communication with the listing agent and try to find out what is going on. Most listing agents of short sales are very proactive in communicating with the Buyer's agent, as they do not want to lose their Buyer when they finally get the Approval Letter.
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Hi patricia. Thank you for your response. As for if they received the appraisal from my lender, I am thinking my agent sent it, although at first she did try to contest the appraisal. She also typed up some kind of letter stating that we could not come up with the extra 7k. But I am getting worried now. Appraisal was done Nov26th. It is now Dec 17. No answer yet. My agent did say we could look at some other things, and then if we like them, put an offer on those. We are going to look at one on Thurs, but....I like the SS one we have the offer on, and just simply want an answer. No one is updated me on anything. In fact, when I e-mailed my agent the other day to ask if she heard anything from the listing agent, my question was avoided. I realize now I cannot call the bank myself, (I am so grateful for this forum, as I learned a lot) but can I call or e-mail the listing (SS) agent directly? If the bank does not like our lender's lower appraisal, then we need to move on, but I do want/need an answer, and it is going on a month since our lender's lower appraisal. Take care and I hope you are having a good night.
Lauren
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