I highly advise anyone trying to buy a short sale home or potentially any home not to use USAA. While the people I have spoken to on the phone are nice to me I feel like the process behind the sceens is way to complicated. I started by calling for preapproval which I received. I then proceeded to purchase a short sale. Many times during negotiations I contacted USAA to give them a heads up and try to speed up the process. This did not help me whatsoever. On the day that I finally had an acceptance from the short selling bank I called USAA to proceed. I was told verbally that the closing could occur by the 22nd of June 2015. I then received the approval from the short sale bank dated for the 11th. We were able to push for an extention until the 19th June 2015. I have done everything in my power submitting documents to USAA with in 12 hrs of them needing them, addressing appraisal concerns to get them resolved with in two days. I am now sitting at a title review phase which I have been in for three weeks. In the contract I listed the title comapny in my town I wanted to use. The title work has been completed by this company for well over 1.5 months. All leins have been addressed. I am financially approved and the appraisal is approved and now we are stuck in a pit they call title review. This has been in this state with everything else complete for over a week and a half alone. I have since had to file for another extension through the short sale bank. They have given us until the 29th to close or I stringly feel the deal will fall through. The current home is being sold as I have been renting and now I may potentially not have anywhere to go. Again this is not an attack on the people but the process is horrible and may leave you scrambling at the last minute for your livlyhood.
Understand the time pressure you have, but keep in mind you do not want them rushing the title review. The title is the single most important document (along with your mortgage loan) you will have. Any issues with it after you close, will be a nightmare to fix.
I appreciate you taking the time to post and share your experience thus far. I have escalated your concerns and situation to a mortgage specialist who will be reaching out to ensure we do everything we can to assist you. Please keep us posted here in the community on the remainder of your home purchase process!