03-23-2012 02:26 PM - edited 03-23-2012 02:29 PM
I'm wondering if anybody has experience offering on a HAFA short sale.
My issue is that I made an offer before the seller was approved. From what I understand you can apply for HAFA with an offer or before you get an offer. What happens to an offer that is made before seller is approved?
On the BofA website if states that offers must be submitted 3 calendar days after they are made. That deadline has just passed - will the offer now be rejected?
Also, does anyone know if there will be an issue since we have going with the listing agent and are now in a dual agency situation? Agent insists it won't be a issue but BofA has said it's a conflicg of interest. They did leave the door open though and say it's up to the reviewer.
Basically any help or advice would be appreciated.
I do know that the seller has applied for HAFA and a BPO has been ordered although they don't have the figure. I know that she had to update some of her paperwork and is not yet approved. Any insight into this process would be greatly appreciated.
It's quite nerve wracking being on the outside. I've called BofA to ask about the proceedure but they've been less than forthcomng. Isn't there some way to request being able to talk with the bank directly?
Another concern is that I think they may have signed three offers as accepted. Is this standard proceedure? I'm asking all these questions on here because I'm concerned that the agent isn't too knowledgable about the process. He originally told us that he needs to upload all offers, which we've already discueesd and know isn't correct. When should the property show as pending? I don't like it showing as available but we've definitely not been accepted or even submitted to the bank.