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Sara Rich
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Sara Rich, Owner/Broker of Rich Properties, is a licensed Realtor in both North and South Carolina and has expert knowledge of the properties in all communities
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Sara Rich answered:
Dear Linda,
I am specializing in listing short sales and am training a company that has been doing these far longer than I, They say that the average time for getting an answer back from a bank if they receive all the paperwork that they need is 44 days. If the listing agent has turned in all the paperwork that the bank need to make an educated decision, that is the average number of days. You know that with an average the time could be a lot less and it could be a lot more. I wouldn't stress about it yet. Keep in touch with the agents and ask if they have contacted the lienholder's negotiator to see if all of the paperwork is there. Then hang on. You will probably get a great deal but it does take patience. I know that it is hard.
Have a blessed day!
Sara Rich
Rich Properties
I am specializing in listing short sales and am training a company that has been doing these far longer than I, They say that the average time for getting an answer back from a bank if they receive all the paperwork that they need is 44 days. If the listing agent has turned in all the paperwork that the bank need to make an educated decision, that is the average number of days. You know that with an average the time could be a lot less and it could be a lot more. I wouldn't stress about it yet. Keep in touch with the agents and ask if they have contacted the lienholder's negotiator to see if all of the paperwork is there. Then hang on. You will probably get a great deal but it does take patience. I know that it is hard.
Have a blessed day!
Sara Rich
Rich Properties
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