Home Selling in Lawrence>Question Details

Judy A, Other/Just Looking in Lawrence, MA

How long can a property remain on the market as a short sale before the bank just decides to go forward to foreclosure?

Asked by Judy A, Lawrence, MA Wed Jul 6, 2011

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It depends on the bank, and how backed up your court system is currently. If a short sale is processing, you can often get the auction date postponed. Just putting a house on the market, as a stall tactic, to keep the bank from foreclosing doesn't usually do much. You really need to be trying to sell the house to get the bank to postpone a foreclosure. Feel free to call anytime with questions.

Eli Givoni, Director
Short Sale Department, LLC
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0 votes Thank Flag Link Wed Jul 6, 2011
That depends entirely on the bank and the time range can be measured in days, weeks, or months.
Web Reference: http://www.golftobeach.com
0 votes Thank Flag Link Wed Jul 6, 2011
It can take a very long time there is really no average here
0 votes Thank Flag Link Wed Jul 6, 2011
That would be up to the Bank and The short sale department and how well the owner is also communicating with them. I have had few that went over 18 months and some that have been short like only 90 days. I suggest the sellers hire an attorney to assist in shortsales..
0 votes Thank Flag Link Wed Jul 6, 2011
That is a question that only the bank and the Short Sale underwriter know, I have seen some on the market over a year and others stop and foreclose in a few months!
0 votes Thank Flag Link Wed Jul 6, 2011
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