- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (3)
- Tim Mellor, "utahtim"
- Contributions:216
One of the reglulations you may be referring to is H.R. 6133 which has not passed - http://www.govtrack.us/congress/bill.xpd?bill=h111-6133
I've heard others say this law (or maybe others) only affect those banks that took TARP money which is a small percentage of banks.
I recommend my clients put deadlines on their offers, and when they expire a few days later go put another offer on another property. There are a lot of deals out there so you don't need sit and wait for a bank to get their act together.
I've heard others say this law (or maybe others) only affect those banks that took TARP money which is a small percentage of banks.
I recommend my clients put deadlines on their offers, and when they expire a few days later go put another offer on another property. There are a lot of deals out there so you don't need sit and wait for a bank to get their act together.
- Dean Bright, "Dean Bright"
- Contributions:123
Short sales are frustrating but the BUYER can get a deal if they are not having to close in a certain time frame. Hope you did not put a time limit on your offer if you still want the property. If the Lender picks the file up and the time limit has expired, they will often shred it and move on. If you still want the property, and you did put a time limit on it then I would resubmit an offer with no time limit. You can always send in a termination and release if you find another property or can not continue to wait. This is just another file on someone's desk. Lender's are overwhelmed with the volume of short sales. Best Regards.
Dean Bright
ReMax
Athens, GA
Dean Bright
ReMax
Athens, GA
- Joseph Domino, "ScottsdaleAZHomes"
- Contributions:176
No, there is no time limit. They may never respond. They only thing that will make them respond is if the Seller offers a settlement that is acceptable to the them. Your offer is only one component in the settlement.
What is the time limit a Lender has to respond to an offer placed on a UT REshortsale?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.