I am in Texas and in the process of making a short sell offer. The listing agent on the property said the bank only needs the purchase contract. The approval/authorization from the owner is not required. Is this normal? Cuz I think the owner still owns the property legally so their approval should be required. If not how can the bank sell it it to me by accepting my offer.
All offers must contain phrase “subject to bank approval”. The owner must sign, but offer does not become contract untill bank signs.
So, you are right, the owner does sign.