The bank has now officially activated our file. They are also requiring that we fill out all of the financial paperwork again on different forms, and continue to redo and resubmit these forms every 30 days until we close. Ugh. Looks like I know how I'm spending a good chunk of my weekends for the next few months. But at least it's movement, right? The offer came in one month ago yesterday, so it only took 30 days for them to pick up the file and tell us that it's not the "right" file.
On a positive note, the house for sale next door to us, the same floor plan, finally closed! It was also a short-sale (what isn't in my area, right now....) and the buyers put the offer in the first week of June, taking 4 1/2 months to close. It wasn't with the same bank, so it's not a direct comparison, nor do I know how short the sellers were. Sort of comparing apples to pears, I guess. The positive for us is that we have a solid, recently-closed comparable property for when the bank requests the BPO. BPO is when they hire independent, local agents to recommend fair-market value for the house. Having an almost exact property comparison that has recently closed at a very similar amount to the buyer's offer will help greatly with that process.
Keep praying, crossing your fingers, or knocking on wood - whatever gets your goat - that the process moves smoothly from here on out (and that we don't find ourselves having to move the week of Christmas.....).
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