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What's next after signing arm's length affidavit?

We are almost 3 months into our short sale, we are the buyers. We just signed an arms length affidavit last week.  BPO was done over a month ago and all paperwork has been submitted. How much longer can we expect to wait? Are we getting close to bank approval?
  • August 14 2012 - Howell
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Answers (2)

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Thanks so much, I appreciate it! That is just the answer I was looking for :) Hopefully it is soon!
  • August 14 2012
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Certainly looks like you are getting closer. Frequently, the arms length affidavit is sent out at the same time as the approval but it really depends on the bank.

As you have undoubtedly realized, you need patience with short sales. It is not so much that the bank has no sense of urgency. They just generally don't have the staff to cope with the volume.

I expect you will get something (hopefully an approval or a counter offer) in a week or two but it could be longer. It all depends on the bank and the investor.
  • August 14 2012
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