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Unread 07-03-2010, 03:07 PM
 
76 posts, read 112,954 times
Reputation: 38
Default underwriting on short sale?

The last contact we had with the listing agent of the short sale we put a offer on he had said that the file went to the underwriter.
I haven't heard the term underwriter dealing with short sale approval, only with our loan approval.
Any idea where in the approval process we are at?
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Unread 07-04-2010, 09:15 AM
 
Location: South Metro Denver and looking at houses
8,214 posts, read 17,071,945 times
Reputation: 3916
Close to the approved part. Sometimes the underwriter is "in house" a fact/file checking person. Other times, it's the MIP company.
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Unread 07-05-2010, 09:55 AM
 
76 posts, read 112,954 times
Reputation: 38
oo ok, thanks
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Unread 07-09-2010, 11:19 AM
 
76 posts, read 112,954 times
Reputation: 38
Listing agent received an email from the bank today that there will be a counter offer, but when he went into the equater system it wasn't showing up in there yet. When he emailed the lady back he got an automated response that she would be out of the office till next week... ugh... but we may actually know whether or not this is really happening soon! woohoo!
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Unread 07-09-2010, 07:33 PM
 
Location: Columbus, Ohio
1,375 posts, read 1,480,524 times
Reputation: 1317
Good luck in the process, I hope it works out!
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Unread 08-23-2010, 11:18 AM
 
1 posts, read 3,808 times
Reputation: 10
so Ssixbery.. did you finally got the counter offer? did you accept it? how long it took you to close? please provide us with details. i am in the same boat.. bank gave me counter and we accepted and it has been 10 days we are waiting for an approval.. there is alons 2nd bank involved in our case
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Unread 08-23-2010, 01:45 PM
 
76 posts, read 112,954 times
Reputation: 38
Quote:
Originally Posted by KAMINIHITESH View Post
so Ssixbery.. did you finally got the counter offer? did you accept it? how long it took you to close? please provide us with details. i am in the same boat.. bank gave me counter and we accepted and it has been 10 days we are waiting for an approval.. there is alons 2nd bank involved in our case
We FINALLY got a counter offer about a week and a half ago or so. We accepted it and got our approval last week. We are scheduled to close on September 15th.
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Unread 08-23-2010, 01:58 PM
 
39 posts, read 43,810 times
Reputation: 35
how much did you offer compared to asking price? how much was the counter offer? did you get closing costs paid for?
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Unread 08-23-2010, 02:20 PM
 
76 posts, read 112,954 times
Reputation: 38
The house was listed for $250,000 we offered $262,000. In the counter offer they accepted our offered price, but denied paying for the home warranty, termite, and lowered the commission. We also asked for 3% towards closing costs. They accepted that... however in the final acceptance that we received they did not make note of that... so were trying to get that figured out.
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Go Back   City-Data Forum > General Forums > Real Estate > Foreclosures, Short Sales, and REOs
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