Need advice with this SS!!!

In working with HomEq on a property. I have offered their net asking price and it was verbally accepted, but I never received a formal notification that my offer was accepted. Now, HomEq has scheduled a new sale date to get the PMI company to respond and react to the offer!
Is this normal? What should I do now?

Typically, once the lender agrees then they submit to the insurance co for their approval prior to putting the approval in writing. This final process usually takes around 2 weeks to a month.

I am not sure about the lender scheduling a sale date in order to get a response? I have never encountered that although it does make sense.

All you can do is the usual…keep calling and emailing requesting updated. Definitely attempt to get the sale date postponed. Ask the negotiator who the insurance co is and/or ask the homeowner for their original closing docs when they bought the prop so you can locate the insurance co.

I have one right now where Countrywide said it was in the hands of the insurance co which ended up being Old Republic. I contacted Old Republic and they were very helpful in getting things expedited actually.

Hope this helps.

Thanks for your input!
I’m pretty sure HomEq is just trying to put the squeeze on the PMI company. A sale date has been scheduled for June 19, but there have been ZERO notices in the legal section in the papers, so if the sale does appear to be taking place, I’m notifying the County (?) that VA state law has not been followed and to cancel the sale!