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I don't know the answer but Whoo hoo!!!
I think you're just going to have to wait it out. Short sales are notorious for dragging out for months, or longer.... Maybe BofA has their act together now, but who knows..
Banks have their own agenda and timeline when it comes to losing money.
What does your agent say about this? They should have a better idea on a timeline.
I think the fact that BofA already approved the price is a good sign. See if maybe your agent can get the seller to communicate with the bank on the status of this and what's next.
Do you legally have to give 60 days notice? If not, screw them.
Once you have a Signed Purchase Agreement (Which I think you are close to having) - then everything heads to title company - you have to clear, the title has to clear.
An appraisal should be ordered as soon as you have the purchase agreement. Inspection if you so choose.
All of this gets combined with your final loan documentation and heads off to the underwriter for underwriting approval. The UW has to approve both YOU and the House (aka appraisal/title, etc.)
I think you are close.
I didn't put in my notice until the appraisal came back and title was clear. We ended up owing rent but worked w/ our landlord to get out earlier than 30 days. I wasn't going to be homeless, either.
Good Luck!!
No, that's not right. We didn't give notice until my LO said the UW came back with only a few conditions. I waited to the very very end.
These fools want $1500 to break my lease, on top of the 60 day notice. I am on my 5th year here and spent this past winter without heat (live in Nevada, so it wasn't that bad, but I did put in work orders for it to be fixed a few times and nothing was done). My home has been robbed 4 times and have had several issues with this complex. I am debating if I'm going to pay the money or just take the hit on my credit or flip it around and take them to court for failing to provide contracted amenities necessary for basic living... I've considered writing a check for one month of rent and offering it after a long letter explaining why I don't believe I owe them for breaking my lease being that they didn't respect the contract while I was a tenant and that they can take the check and cash it as compensation and by cashing the check it removes me of any liability or that we can let a judge decide.
Let me add that this complex has a huge history of issues with the court system and that it is only at approximately 50% capacity. I also work for the security company that is contracted for my complex. The current manager and my boss were good friends growing up, my boss has tried to get me some slack, but this manager said $1500 up front when I turn in my keys or they're charging me per month/evicting me. If I'm "evicted" for non-payment, am I still responsible for paying the remainder of the lease? I've never been evicted before, so I don't know how that works. I even offered to do payments as $1500 is a nice chunk to dish out when you're moving and want to paint and do floors and buy extra stuff for the new place.. and painful to pay when it isn't going to anything. He refused, even though I've always paid my rent on time and never once bounced a single check. I'm half tempted to just move in the middle of the night.