Short sale approved;waiting for re-approval

[baboy]

Sooo…wife and i have been watching the market patiently (wife not as patiently) for the past 8 years, started house hunting seriosly aug 09 and after a roller coaster ride we are as close as we’ve been to opening escrow on a condo. It is an approved shortsale (approved for original buyer who walked) but we stepped in within hours of the property being re-listed and got our offer accepted. Our agent says since there’s a new buyer (us) the offer must go back to the bank for another approval. Everything about this property is exactly what we’ve been waiting patiently for (location and and at a great price). Can anyone provide insight as to what is going on with the bank and how long this re-approval will take? We’re going crazy waiting. Our agent says as little as a few days up to a couple of weeks. We find ourselves becoming too emotionally attached to this property (not good I know)

[SD Realtor]

Sounds like your agent knows what they are talking about. I have seen reapprovals happen pretty quickly, within a few weeks on some and longer (a few months) on others. It all depends on what the lender wants to do. If they need to rerun a BPO and Appraisal etc… So yeah it sounds like you guys are in a good spot, and that your agent knows what is going.

[SD Realtor]

Sounds like your agent knows what they are talking about. I have seen reapprovals happen pretty quickly, within a few weeks on some and longer (a few months) on others. It all depends on what the lender wants to do. If they need to rerun a BPO and Appraisal etc… So yeah it sounds like you guys are in a good spot, and that your agent knows what is going.

[SD Realtor]

Sounds like your agent knows what they are talking about. I have seen reapprovals happen pretty quickly, within a few weeks on some and longer (a few months) on others. It all depends on what the lender wants to do. If they need to rerun a BPO and Appraisal etc… So yeah it sounds like you guys are in a good spot, and that your agent knows what is going.

[SD Realtor]

Sounds like your agent knows what they are talking about. I have seen reapprovals happen pretty quickly, within a few weeks on some and longer (a few months) on others. It all depends on what the lender wants to do. If they need to rerun a BPO and Appraisal etc… So yeah it sounds like you guys are in a good spot, and that your agent knows what is going.

[SD Realtor]

Sounds like your agent knows what they are talking about. I have seen reapprovals happen pretty quickly, within a few weeks on some and longer (a few months) on others. It all depends on what the lender wants to do. If they need to rerun a BPO and Appraisal etc… So yeah it sounds like you guys are in a good spot, and that your agent knows what is going.

[baboy]

I’m afraid a new bpo might cause the lender to bump up the price. Also hoping to start escrow before April 5 since according to our LO that’s when FHA mip goes up. Guess it’s just wait and see, thanks SD R

[baboy]

I’m afraid a new bpo might cause the lender to bump up the price. Also hoping to start escrow before April 5 since according to our LO that’s when FHA mip goes up. Guess it’s just wait and see, thanks SD R

[baboy]

I’m afraid a new bpo might cause the lender to bump up the price. Also hoping to start escrow before April 5 since according to our LO that’s when FHA mip goes up. Guess it’s just wait and see, thanks SD R

[baboy]

I’m afraid a new bpo might cause the lender to bump up the price. Also hoping to start escrow before April 5 since according to our LO that’s when FHA mip goes up. Guess it’s just wait and see, thanks SD R

[baboy]

I’m afraid a new bpo might cause the lender to bump up the price. Also hoping to start escrow before April 5 since according to our LO that’s when FHA mip goes up. Guess it’s just wait and see, thanks SD R

[sdrealtor]

It would be rare that they would do another BPO. I agree that it could take anywhere froma few days to a few weeks depending upon the lender. If you let me know who the lender is I can better advise. As long as your offer is similar to what was approved you should be in good shape. If its different by a big margin it could take longer and is bit less certain.

[sdrealtor]

It would be rare that they would do another BPO. I agree that it could take anywhere froma few days to a few weeks depending upon the lender. If you let me know who the lender is I can better advise. As long as your offer is similar to what was approved you should be in good shape. If its different by a big margin it could take longer and is bit less certain.

[sdrealtor]

It would be rare that they would do another BPO. I agree that it could take anywhere froma few days to a few weeks depending upon the lender. If you let me know who the lender is I can better advise. As long as your offer is similar to what was approved you should be in good shape. If its different by a big margin it could take longer and is bit less certain.

[sdrealtor]

It would be rare that they would do another BPO. I agree that it could take anywhere froma few days to a few weeks depending upon the lender. If you let me know who the lender is I can better advise. As long as your offer is similar to what was approved you should be in good shape. If its different by a big margin it could take longer and is bit less certain.

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