Home Buying in Eustis>Question Details

Curl, Home Buyer in Eustis, FL

how loing can a short sale take?

Asked by Curl, Eustis, FL Mon Sep 19, 2011

in a shrot sale contract and its been 2 months...

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I have seen short sales take as along as 6 months, but my experience recently is that you will have an answer from the seller within days and from the bank within 2 months or less.
1 vote Thank Flag Link Mon Sep 19, 2011
My experience has been much like Kelly's. My last two short sales were approved in about 2 months and closed within 4 months. I haven't been lucky enough to have one approved in 24 hours yet. One could only hope.

As Shanna mentioned, keep in contact with your agent. 2 months time is still reasonable. Back in 2009, when banks were just facing their first tsunami of short sales, transaction took 6-12 months to close.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon Sep 19, 2011
Hi Curl,

I've had short sales approved in under 24 hours and then I've had short sales approved in 5 months. Keep in mind, once they're approved then you have closing time - usually 30-45 days (at least in CA).

Have your Realtor stay in CONSTANT contact with the listing agent who should be staying in CONSTANT contact with the short sale negotiator.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Mon Sep 19, 2011
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