Property Q&A in 25414>Question Details

Chrisgsxt19, Home Seller in Manassas, VA

Submitted counter offer on short sale any idea how long it might take to hear something?

Asked by Chrisgsxt19, Manassas, VA Wed Mar 23, 2011

We submitted an offer on a short sale .......asking price 269K, 1st offer 240K closing, bank counter 265K no closing and wanted to see proof of funds for down payment. We sent back a counter offer at 260K closing and showed we have the down payment money. Any idea how long it could be until we get an acceptance/counter/rejection? This is in Charles Town and is not one of the giant banks. Also there are 2 lien holders and the 2nd has already accepted our original offer.

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Answers

3
In this area, with bigger banks we have seen response time come down some. The smaller banks are the hardest to predict as it can depend whose desk it lands on, etc. The fact that you have had any kind of response indicates that things are moving along- a good sign. The negotiator may have some idea of response times as they work with these banks a lot. They may be able to guide you through your agent.

Good luck!
0 votes Thank Flag Link Mon Sep 3, 2012
Hi Chris,

I would recommend inquiring with your Realtor.

Your Realtor should be getting updates from the listing Agent.
Who is negotiating the Short Sale? The listing Agent should be getting updates from whoever is negotiating the Short Sale.

The best advise is to be patient.

I hope this was helpful.

Sincerely,

Carol Graves

Realtor®
Earning your Trust….by exceeding your expectations!
Long & Foster Realtors, Inc.
Jefferson Crossing Shopping Center
91 Saratoga Drive, Suite E
Charles Town, WV 25414
Office 304-725-7000, 800-922-9309 Ext. 1770
Cell 703-554-5071

carol.graves@longandfoster.com
http://carolgraves.lnfre.com

I accept referrals. If you know of someone interested in buying or selling a home, please mention my name. It would be my pleasure to assist them as well.
0 votes Thank Flag Link Wed Mar 23, 2011
HI Chris, the 2nd seems to be the hardest so you've got half the battle won so far now it's the first. Sometimes it's within 10 days and other times it takes forever hang in maybe it will be faster now that the banks have so many issues to deal with.

All the Best
Dave & Lisa
Web Reference: http://www.urhomerealty.net
0 votes Thank Flag Link Wed Mar 23, 2011
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