In Minnesota expect it to be about a 3month timeline if the home has already gone to sheriff sale. If it has not than there will probably be some other negotiations with the lender that might hold it up a little longer.
Also will depend on the BPO.
This is the single most important factor when it comes to Short Sales and can really cut down on the timeline.
There are a bunch of other factors to consider but it would be best to speak with someone that lists a lot of short sales down there.
If signed accepted offer has been delivered to both parties of transaction and there are no contingencies, the offer would be held as a back up offer. It would be subject to the written cancellation of your offer, due to inspection or financing issues.... more