What should you do when a bank has verbally said that they will work with a homeowner on a SS. They had an offer. The buyers said they were pre-approved but never provided the pre-approval letter. The lender for the buyer said that there was a problem with their financing so the deal fell thru. Should the homeowners go ahead and send their paperwork into the bank anyway in hopes that the buyer will work things out, or in case another buyer comes along? Or is that a waste of everybodies time?
No, not a waste of time at all. Just send it all in as if the original buyer is still in play. It will still take time to work through the system and get an approval anyway. In that time, you can list the property or find a new buyer. You can always switch out the buyer offers mid-stream.
Thank you. Very helpful.