how long do short sale/auction homes take before the buyer knows that they are in busibess with the house?
at what point does the auction end? is there a magic number that the bank wants to hit or number of days on the market? at what point would i be able to rest assured in knowing that my offer is in competention with another?
Answers (1)
FIRST ANSWER
Monilove,
With short sales there really is no specific time line. Each bank is different and approval typically can take 2-6 months. Once the approval is obtained, escrow generally will be 30-45 days. When the bank accepts an offer then the competition will end and escrow will open.
Please let me know if you need any assistance.
Thank you,
Deborah Linden
Prudential California Realty
909-532-0404
Web Reference: http://www.deborahlindenhomes.com/
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