The ever-informative weekly update from the negotiator just showed up a few moments ago in my e-mail inbox:
"...the file is in the prescreening phase and it could wait to be fully reviewed there for up to 60 days before moving on to a processor. "
Prescreening phase???? I have pretty much no idea what this means. At first read it appears to me that it could be another 60 days before the bank actually looks at the file to start the process of valuing the property, counter-offering, rejecting the whole thing, etc. By that point, the purchase and sale agreement will have expired, and the buyers, if they have grown tired of the wait, could very easliy be moved on to the next deal.
So who knows. At the very least it's looking more likely that we'll get another Christmas in the house. It'll be a bitter sweet one, though.
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