Home Buying in Conroe>Question Details

Dawn, Home Buyer in Bend, OR

I put an offer on a home in Oregon 71/2 months ago. It's a short sale through Citi Bank. We are at the point of with the negoitater. Is this?

Asked by Dawn, Bend, OR Sat Apr 14, 2012

normal? Citi Bank sent out an appraiser last November and now it has been with a negotiator for some time. We should have closed in January but here it is mid April and once again we are hearing should here in a couple of weeks. I have been hearing this phrase over and over.

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Welcome to the world of short sales. You unfortunately will hear this many more times before you make it to closing, if it closes at all. You must have plenty of patience and understand you have no control of the contract administration end and banks could care less about following the terms of the contract because they know you have few options if they don't.
0 votes Thank Flag Link Sat Apr 14, 2012
Unfortunately, it is very normal. Short sales can happen in as little at 30-60 days and can go on for many months. I have been working one for nearly 8 months myself. It is a long tedious road but one that may be worth it in the long run. Good Luck!

Matthew Klovenski

0 votes Thank Flag Link Sat Apr 14, 2012
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