Home Buying in 23464>Question Details

Tasha, Home Buyer in Virginia Beach, VA

is suntrust a bank to deal with a short slae? do they take as long as the bank of american.?

Asked by Tasha, Virginia Beach, VA Mon Apr 19, 2010

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All short sales take time. They are not for those who want a quick closing. It can take any where from 3-6 mons. If you need something sooner then go the regular route. I don't know one bank to be wore then another. It depends on where they are in the foreclosure. It depends on if the seller prearranged with the bank to accept a certain amount and if that amount is met. Just because its a short sale doesn't mean the bank has to accept the offer. Sometimes there are other lien holders that also have to give consent and this lengthens the process even further. Patience is a virtue when it comes to short sales.
0 votes Thank Flag Link Mon Aug 26, 2013
I have had an offer for my buyers sitting with Sun Trust for over three months now......still no bank approval. They keep telling us it is with the negotiator, but they are not negotiating.
Best of luck to you!

Nelene Gibbs, Realtor
Real Estate Investment Advisors
222 Central Park Ave Suite 1010
Va Beach, Va 23462
757 672-3232
Fax Toll Free: 1 888-402-1666
mail to: nelene@nelenegibbs.com
http://www.NeleneGibbs.com




www: nelenegibbs.com
mail: nelene@nelneegibbs.com
0 votes Thank Flag Link Thu Apr 19, 2012
I've done a few short sales with Suntrust and they were fairly easy to work with...no complaints at all. The process moved fairly quickly from beginning to end. In my experience, they are no where near as bad as Bank of America. Just remember that every short sale is different and there are many factors that determine the length of time that it takes to close one.
0 votes Thank Flag Link Mon Apr 19, 2010
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