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Personal Finances / Buying or Selling a Home


Subject:  Re: Chase no longer issues commitment letters? Date:  7/8/2013  9:19 AM
Author:  kmart00 Number:  125735 of 128866

I had a type-o in my response. Instead of saying
'I understand that commitment letter is truly binding...'

I should have said:
'I understand that commitment letter is NOT truly binding...'

I think what has happened is that the buyer had to reset the clock when they went back to Chase. They are likely still in underwriting, I would assume.

Per the (now clarified) broker response:
'They have pre-approval and conditions' (whatever that means)--I assume it means the buyers have conditions to meet before Chase issues a commitment letter and starts us down the path toward closing
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