leesburg: Is that ACTIVE short sale really already approved???
- 12/07/11 03:26 PM
As an agent I see it all the time ..approved short sale in listing remarks in an active short sale listing. Yet, my broker insists that a short sale that is currently on the market and not under contract cannot possibly be approved. Even if the bank had given approval on a prior offer that fell through. This is because approval was only granted for that one offer. Any other offer that comes in will need to be re-approved by the bank. So what is the correct terminology for a short sale that has gone through the approval process where a … (0 comments)
As an agent I see it all the time ..approved short sale in listing remarks in an active short sale listing. Yet, my broker insists that a short sale that is currently on the market and not under contract cannot possibly be approved. Even if the bank had given approval on a prior offer that fell through. This is because approval was only granted for that one offer. Any other offer that comes in will need to be re-approved by the bank. So what is the correct terminology for a short sale that has gone through the approval process where a … (0 comments)
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