Home Buying in Carmel>Question Details

Cathy, Home Buyer in Pleasantville, NY

how long does it take to close a short sale after approval?

Asked by Cathy, Pleasantville, NY Sat May 19, 2012

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6
Ask your agent and or attorney the question; if the sale is approved it can close rather quickly...
1 vote Thank Flag Link Sun May 20, 2012
Talking about roughly 1800 sq feet,3/4 bedroom,2 bath.
0 votes Thank Flag Link Thu Aug 23, 2012
What type and price range houses are selling in Wilmer ,Wappinger area?
0 votes Thank Flag Link Thu Aug 23, 2012
Cathy,

After the bank finally approves, they will all of a sudden be in a hurry and closing can happen quite quickly....be ready.
0 votes Thank Flag Link Sat May 19, 2012
Hi Cathy,

Tina is right. Once you have received the short sale approval letter(s) from the lien holder(s), you can expect to close in 30-45 days depending upon the lien holder's letter. The key is the approval letter. Ask your agent to get a copy from the listing agent. It will state when they want to close.

Good luck!

Kevin McLaughlin
Berkshire West Realty
0 votes Thank Flag Link Sat May 19, 2012
Hi Cathy,
It's not couple months. After short sale approval, the time frame to close is usually around 30 days. This allows the buyer enough time to do inspections and arrange financing, if necessary. There are occasions when a skittish lender wants a quicker close, like 2 weeks and other times when the need for second appraisal push the close out to 45 days.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat May 19, 2012
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