How long ?

[Mzvanessa]

Hi everyone, So we put in a offer on a home on Saturday Sept 28th. I got a call that Monday from my realtor stating that I needed to come in to sign a multiple offer confirmation form. So I did and I also raised the offer by 35,000 dollars more. So Thursday Oct 3rd I received the email stating that our offer has been accepted. Now here's the question for everyone. How long will it take before I get the Ratified contract ? So I can call for and inspector, and check out some home owner insurance rates and so on. Can some one tell me how long I can be waiting for this process? My realtor states that it can take up to two weeks. I hope that info is not true.

[StartingOver10]

If your Realtor says it could take up to two weeks, it sounds like you are buying a bank owned home. Is that right?

If so, it is entirely possible for the asset manager to take that long to sign off on your contract. Are you buying a fannie mae or freddie mac f/c?

[Mzvanessa]

Yes StartingOver it is bank owned, and yes it is a Freddie Mac F/C home. Boomer, I was hoping that she was wrong this one time LOL. Have you gone through this before ?

[DallasLoanGuy]

could take 2 weeks. maybe sooner..... depends on the selling bank

[Mzvanessa]

Thanks for the info, I will keep everyone updated.