Home Buying in 92223>Question Details

Ryan, Home Buyer in Beaumont, CA

How long on average will I have to wait for an answer from the bank on an offer?

Asked by Ryan, Beaumont, CA Sun Aug 31, 2008

With the DPA ending 9/30. Do I still have time to get the assistance?

Help the community by answering this question:


Some banks work real fast with appraisers and get it done in a week, and others can take about three weeks. This varies.
1 vote Thank Flag Link Sun Aug 31, 2008
GREAT QUESTION: Bank may never respond, I always notify my buyers though we may have submitted an offer we need to keep looking for other properties. IN some instances a buyer could sumbit up to 15 offers considering if a property in a bidding war. Lenders are overwhelmed with current situation MOVE at a snalis pace.
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1 vote Thank Flag Link Sun Aug 31, 2008
A short sale can take from thirty to ninety days. It also depends heavily on the bank or banks the short sale is being asked for the short sale approval.
0 votes Thank Flag Link Thu Jun 20, 2013
Is the property a short sale or a Bank Owned property?

It could be less than 48 hours or it could be much longer if it is a short sale.
0 votes Thank Flag Link Wed Jun 19, 2013
The answer varies from bank to bank. It also depends on many other factors such as weather or not the listing agent submits a complete package with ALL papers required by the bank and if they are fully signed and dated. Simply missing a signature can cost a week or two of time. It could easily take anywhere from 6 weeks up to 6 months. In most cases I would say between two and three months.
0 votes Thank Flag Link Tue Jun 4, 2013
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