Question by Luis G: Pending Sale? mean Bank Accepted our Exact Offer?
2 Part question,
I think I’m kinda aware what a “pending sale” is
but is it still possible the bank can counter offer us?
Home is a short sale. House been listed on a website as “pending sale” for 17 days now but it does not show the home at all on our local MLS listing (head honcho? lol)
We haven’t heard anything from the bank itself, just relying on the website as of today.
Called our agent and she hasn’t heard of them either.
All we get from her is to wait some more!
So what is being done ,i feel the bank is moving the process without us being aware??I guess when can i expect to see some paper work cause we been waiting for over 2 months now.
I’m only 17 years old looking out for my
family,
Thanks in advance
1 thing our agent has assured us is that its just us and the bank now,no other offers,
A women told us while back, representing the bank, that it would just take time and the home would be ours if we where patient, but haven’t heard if it was approved for our exactly offer?
Best answer:
Answer by Lisa T
I was in a similar situation and from what I understand, when you put an offer in on a short-sale and they are (finally) reviewing the offer it stops the progress towards foreclosure and becomes pending. They may be reviewing someone else’s offer as well as yours. When you initially put in the offer you had to have put an offer expiration date. If that date has passed and they’ve not gotten back to you, you can assume they are proceeding with someone else’s offer and have rejected yours. If that date has NOT passed… well, you need to find out the expiration date as your first step.
* It is possible that they are reviewing your offer further, but the only ones who know if the bank is looking at other offers is the listing agent and the bank itself, your agent wouldn’t necessarily know for sure. Did you find out the offer expiration date? Once an offer is accepted, the bank will send either a signed acceptance or counter-offer to your realtor and your realtor would then notify you. It is very unusual for an offer to be sent with no expiration date or an expiration date of over 30 days. I would be very surprised if your offer has not expired. I can’t stress enough how important it is to find that out. You definitely should have heard at least SOMETHING by now, whether it’s Yes, No, or a counter-offer. I don’t think your realtor is keeping on top of it like he/she should be.
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