There are NO constants.
Weâ€™ve received approval in under a week and weâ€™ve endured on others for over 18 months. There is no real answer for â€œwhat is the longestâ€ â€“ it totally depends on the myriad of details specific to each transaction. The industry average is still about 6 months. It also depends on who is actually running the transaction â€“ we use professional mitigators who do nothing but handle short sales all day long every day - they can usually get things done much faster than an inexperienced agent who doesnâ€™t do any kind of short sales volume.
As for "AS-IS" ... every short sale we do is sold "AS-IS". There is no one to make any improvements - than bank won't and the seller is losing their home and can't be expected to kick in anything.
The good thing was, we got this short sale closed after 15 months. My advice is to act it earlier when you need to make that decision to avoid the foreclosure date been scheduled. Yes, most of the short sale are sold 'AS IS', as the sellers run out of money to pay the mortgage, not to speak of doing any repair. It is up to the listing agent to deal with the bank to take a lower price if the property is in bad shape . Call me for any help or question at 562-331-0047