I made an offer on a shortsale house on JUNE 6, 2008. the offer was acceptrd by the owner, My bank has

Asked by Pat Ford, Orange Park, FL Sun Jul 27, 2008

approved me for the full amount of the listed price. They are ready to close today; but, the bank that holds the owners note has yet to respond and send my bank an a paper stating that they have accepted the offer. The bank holding the note has done a appraisel and some work?? with the title company. How long should it take? They said they lost the papers, but the realtor had copies and gave them to them.

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The Hagley G…, Agent, Pleasanton, CA
Sun Jul 27, 2008
You never know with short sales....it all depends on the lender....and the experience of the listing agent. I have had answers on short sales in as little as 15 days....and I have had some that have taken 5 months.

Only 35% of short sales actually close. I am an experienced short sale listing agent and my closes are only at 80%.

I know it's frustrating. Short sales are not the way to go for folks in a hurry. Good luck!
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