short sale hud 1 (accepted, agreement, value, offer)

[bates2000]

i am in a process of a short sale and the bank has all the information.
3/5 signed for purchase agreement
3/6 seller signed
3/7 all paperwork sent to bank
3/11 bpo done
3/5 bank said they will have answer in 30 days
3/29 signed another purchase agreement
4/1 seller signed and sent to bank
4/13 bank asked for a second hud 1
do you think that the bank will be making a decision soon. Since they asked for undated hud-1 do you think that it is a good sign it will be approved? just needing some input. iam on pins and needles with this short sale. its my first house and i fell in love with it the moment i stepped into it.

[2bindenver]

What type of loan does the Seller have? Who is the servicer? What is the hardship? What was the BPO value?

[FalconheadWest]

My last Short Sale took 13 months. Do you really think it would get done in 30 days when any google search will show you that most take several months?

[bates2000]

as matter of fact falconheadwest i didnt know how long it would take. my first house buying experience ever.. i began to google recently and realized it could be anywhere from 30 days on but thanks so much for your smart answer!

[bates2000]

the bank is regions bank . iam not sure what the bpo was. we found it and started the short sale with the owner bc she has been out of the house for 2 yrs. Regions oked the short sale. just waiting and waiting to let us know if our offer was accepted or not.. regions told me they had up to 30 days to give me an answer.. so iam just sitting and hoping.

[Zippyman]

Originally Posted by bates2000

the bank is regions bank . iam not sure what the bpo was. we found it and started the short sale with the owner bc she has been out of the house for 2 yrs. Regions oked the short sale. just waiting and waiting to let us know if our offer was accepted or not.. regions told me they had up to 30 days to give me an answer.. so iam just sitting and hoping.

It sounds like things are moving pretty fast considering - the hud 1 gives the bank a net figure, so if they're looking at that, you're probably pretty far along in the process.

[Jkgourmet]

Bates2000 - before you go house shopping again, may I sugfest you get a Realtor.

[bates2000]

Well i do have one..

[setisail]

Once the lien holding bank asked for a second HUD 1, we had our approval within 10 business days.

Good luck!