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I'm sorry to hear about your grandma...it's hard to get excited when things like this happen. I know the feeling.
But I do also want to tell you CONGRATS on the verbal, and soon you will have the written approval in hand!
We closed on Friday! The house is ours! But I have to say for me, all the excitement is over...we got everything moved and now the unpacking. But to be honest, I just want to make this house into our home already because it doesn't feel like it and it's getting pretty emotional for me. I miss my old home...
Thanks!
Congrats on the closing! Oh no!! I am sorry to hear that. Once you get all your stuff unpacked and the way you want it I am sure you will warm up to it. Does the house need paint or any work? We have to refinish the hardwood in bedrooms and living room and paint.
I am already dreading the move!
Congrats on the closing! Oh no!! I am sorry to hear that. Once you get all your stuff unpacked and the way you want it I am sure you will warm up to it. Does the house need paint or any work? We have to refinish the hardwood in bedrooms and living room and paint.
I am already dreading the move!
The house does not need a thing! No repairs whatsoever...but may need some "warm" paint colors on some walls. I know it takes time to make it feel homey...I just wish it was already here! I haven't hung anything up...no decor yet, so I'm sure once I do that it will help.
Again congrats and good luck on the packing/moving!
you have got to be kidding. I have waited on hold and left several messages with my BOA negotiator. How does this work? You just go to twitter and send out a tweet and they wil respond?
exactly. I tweeted and got a respond almost immediately. Got a call an hour later.
I am not authorized to get info from bofa but I did have them take a look at the status of the file and contact my realtor/selling agent for an update, which they did.
This is much more than I could achieve trying to call bofa directly. They shot me down immediately that way.
Hopefully this has set things in motion in the background.
exactly. I tweeted and got a respond almost immediately. Got a call an hour later.
I am not authorized to get info from bofa but I did have them take a look at the status of the file and contact my realtor/selling agent for an update, which they did.
This is much more than I could achieve trying to call bofa directly. They shot me down immediately that way.
Hopefully this has set things in motion in the background.
Right! They wouldn't tell me anything either but the next day the listing agent got a call from the new negotiator! Tell the listing agent about the twitter dept. If either agent doesn't usually do a lot of short sales, the might not be aware of it. I learned about it from the short sale superstars website. My agent was skeptical so I went ahead and tried it myself and it worked! They will only discuss details with the LA or seller though. Pass it on to them!
October 18,2011: We signed Earnest money contracts
October 28,2011: A negotiator was assigned to the file
November 14,2011: Fully executed Contracts are submitted to the bank.
November 18,2011: Escrow Check is deposited into an Escrow account.
November 21,2011: A new negotiator was assigned and BPO was ordered.
November 28-December 7, 2011: BPO was completed
December 2011-At some point ANOTHER negotiator was assigned and the seller was approved for HAFA. (don't understand why/how this happened now.)
January 9,2012-Told our offer looks good and should be no problem for approval. We should hear in the next week.
January 12,2012-There was some kind of "problem" with the lawyer fees for BOTH parties. Negotiator requests both lawyers to change fee,sign, and re submit. This will delay us for an additional 7-10 days.
October 18,2011: We signed Earnest money contracts
October 28,2011: A negotiator was assigned to the file
November 14,2011: Fully executed Contracts are submitted to the bank.
November 18,2011: Escrow Check is deposited into an Escrow account.
November 21,2011: A new negotiator was assigned and BPO was ordered.
November 28-December 7, 2011: BPO was completed
December 2011-At some point ANOTHER negotiator was assigned and the seller was approved for HAFA. (don't understand why/how this happened now.)
January 9,2012-Told our offer looks good and should be no problem for approval. We should hear in the next week.
January 12,2012-There was some kind of "problem" with the lawyer fees for BOTH parties. Negotiator requests both lawyers to change fee,sign, and re submit. This will delay us for an additional 7-10 days.
January 31,2012- Verbal approval
February 3,2012- written approval!
Closing on or before March 16,2012
That's awesome!!! What great news!!! Now the race to closing!
That's awesome!!! What great news!!! Now the race to closing!
well with HAFA its a 45 day close so not too much of a race. Did you close earlier then the approval letter? Maybe we can if the seller gets out...he seems like the wait till the last minute type.
well with HAFA its a 45 day close so not too much of a race. Did you close earlier then the approval letter? Maybe we can if the seller gets out...he seems like the wait till the last minute type.
At closing I found out that the seller was HAFA as well. He got $3000 at closing. We got verbal on Dec 30, and written approval the next day with closing of Feb 2, but we ended up closing on Jan 27 - so it's possible!! Nonetheless good luck!
November 10, 2011 - Offer submitted for $155k (full asking), + 3% closing November 10, 2011 - Offer Accepted by Seller (30 minutes) November 11, 2011 - Docs sent to investor. November 13 - Response from investor, they will not cover closing costs, but bank will have the final say. November 18, 2011 - Assigned to a negotiator at the bank. Will not hear back until November 28 as they will be out for the holidays. December 7, 2011 - Negotiator was never assigned, escalated at Chase. December 8 - Negotiator finally assigned. December 10, 2011 - BPO started today, was told appraiser said offer price should not be an issue. December 31, 2011 - BPO completed January 2, 2012 - Chase would not accept docusign, wanted hand printed signature on the offer letter. Hope this doesn't start the process over. January 4, 2012 - Was informed to expect a decsion soon, but as others mentioned soon could be 2 weeks January 15, 2012 - I was informed a decision will be made by Feb 3, 2011. On Feb 13 we would officially hit 3 months.
February 1, 2012 - SHORT SALE APPROVED!!!! Wohooo!!! First offer and they accepted 3% closing. Given 45 days to get everything in order.
February 3, 2012 - Appraisal completed, and home came in $10,000 over my offer. Walking into equity, beautiful.
February 4, 2012 - Met with loan officer, signed all docs.
February 5, 2012 - Inspection completed, other than a few small things I have a clean bill of health.
February 6, 2012 - Loan submitted to Underwriting for Approval.
Once the loan is approved it goes off to USDA. Once cleared to close I'm looking at a March 9, 2012 closing.
congratulations eger! good for you not being afraid of buying a short sale and for sticking it out through the process. enjoy your new home!
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