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Old 07-03-2010, 03:07 PM
 
76 posts, read 121,489 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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Old 07-04-2010, 09:15 AM
Status: "Ask me about Denver" (set 6 days ago)
 
Location: South Metro Denver and looking at houses
8,512 posts, read 18,464,775 times
Reputation: 4243
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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Old 07-05-2010, 09:55 AM
 
76 posts, read 121,489 times
Reputation: 38
oo ok, thanks
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Old 07-09-2010, 11:19 AM
 
76 posts, read 121,489 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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Old 07-09-2010, 07:33 PM
 
Location: Columbus, Ohio
1,379 posts, read 1,767,889 times
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Good luck in the process, I hope it works out!
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Old 08-23-2010, 11:18 AM
 
1 posts, read 4,130 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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Old 08-23-2010, 01:45 PM
 
76 posts, read 121,489 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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Old 08-23-2010, 01:58 PM
 
39 posts, read 47,943 times
Reputation: 39
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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Old 08-23-2010, 02:20 PM
 
76 posts, read 121,489 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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