I am first in line on a short sale with an offer. The seller has a first and a second on the house. A BPO
is scheduled and I'm wondering since it sounds like the paperwork is starting should it be a faster process than the horror stories I hear about short sales taking more than a year? It's been three weeks so far....and I submitted an offer just in time because apparently the house was on the verge of turning into a foreclosure. The listing agent thinks it should be 30-45 days before i hear from the bank and she is apparently skilled at short sales so I hope she is right.
Hi Beemtiger,
If the seller(owner) received the notice of trustee sale, the shortsale should go faster. But with shortsale the sky is the limit. You will never count on it until and unless you open escrow. Good luck. We are all in it together. I am dealing with one right now and it depresses me! The worse thing is what else is out there. Not much!
You are not wrong about the horror strories that you've heard but a good agent can help you avoid that. I've only seen the horror strories happen when agents are not diligent about following up with the bank often enough. It seems your sale seems to be going well and I wish you good luck. Just make sure your agent is in constant contact with the negotiator. Please feel free to call or email me if you need any further information.
Kamal Randhawa
Broker
510-932-1066
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in Vallejo
View all »
Ask a question
|
|
|
|
|||||||||||
|
|
|
|
|
|
Fair Housing and Equal Opportunity