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Home Buying in Boggy Creek : Real Estate Advice

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Fri Sep 25, 2009
Mike Luzzo answered:
Seadov,

You asked:
How long does it is take, on average, for banks to approve a short sale deal?
I recently ran my numbers for a buyer who asked the same question. Currently I have 20 short sale files in mitigation.
Here are the numbers:
33 sold
Shortest 28 days
Longest 592 days
Average 165 days
If you have proper agent representation your agent should be managing YOUR expectations. In other words Seadov, how long do YOU want to stay in contract until YOU are ready to look and purchase somewhere else?
You can only manage what you can manage and control only what you can control.
Good Luck.

Mike Luzzo
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