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Asked by Jeff Underdahl, Vista, CA Thu Sep 5, 2013

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Answers

9
Debra (Debbi…, Agent, Livingston, NJ
Thu Sep 5, 2013
You're an agent - you should know the answer (looks pretty silly/sad if you don't know it....and really want us to tell you!!)

Why ask and answer your own question.....oh, right...for self promotion!

Go write a blog if you want to showcase your knowledge of short sales - this is the Q&A section meant for genuine questions seeking genuine answers..........not a set up opportunity for agents to highlight themselves
1 vote
no, I disagree - with a legitimate ANSWER to a legitimate question, most of us are trying to answer the question and help the consumer. This is blatant self promotion, and it really isn't allowed. Read Trulia's Community Guidelines at the bottom of the page for clarification.
Flag Sat Sep 7, 2013
And what are the rest of our agent answers here for? Oh, right, self promotion.
Flag Thu Sep 5, 2013
Sinead McAll…, Agent, Oceanside, CA
Thu Sep 5, 2013
Did anyone notice that he answered his own question? LOL

​Sinead McAllister-Clifford
Real Estate Broker/ Realtor®

McAllister Homes Real Estate
Residential Sales & Property Management
http://www.McAllisterHomes.com
License 01366009
858-205-5215 CELL
info@mcallisterhomes.com EMAIL
1 vote
haha Yes, I did....so silly............ask and answer your own question - that's NOT what this Q&A section is meant for -
Flag Thu Sep 5, 2013
Jason Whitmo…, Agent, Vista, CA
Fri Sep 6, 2013
Hello Mr. Underdahl,
Every short sale is different. It depends on how fast the lender can process the documents received. Sometimes there are liens on a property that the short sale negotiator needs to clear. It also depends if there is a first and second loan out. We have had short sales close in 30 days, others have taken up to 5-6 months.

Thank You,
Jason Whitmore/Broker
Cal Realty America
0 votes
Tony Cannon, Agent, Carlsbad, CA
Thu Sep 5, 2013
The short sale lender often gives 30 days to close once the short sale is approved, but I have seen them specify 45 days, or less than 30 for cash buyers.

As you well know being a long timer in this business, the real question is how long does it take to get the short sale approved.

As an example of a long short sale, I really enjoyed seeing the closing earlier this year at 265 Loma Alta #C7 in Oceanside. The seller who was also the listing agent who was also the buyer's agent managed to short sale his investment property in 1621 days. I'll let you fill in the blanks on that one...
0 votes
The Stephen…, Agent, Portland, OR
Thu Sep 5, 2013
However long the bank wants to take! Honestly though, I've had bank approval in less than two weeks, but sometimes it has taken over a year! Really depends on the bank (and how many banks) and the seller's situation.
0 votes
Joan Wilson, Agent, San Diego, CA
Thu Sep 5, 2013
Jeff, I know you know the answer...as long as the lender wants it to take.There are fewer out there now, so it really should be faster. I seeing 60 days or less.
Hope you are doing well!

Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)
Pacific Sotheby's International Realty
Call or Text: 760-757-3468
joan@joanwilsonrealtor.com
0 votes
Bill Villa, Agent, San Diego, CA
Thu Sep 5, 2013
Hi Jeff,

I think I have seen you at Realtor events. You are a licensee, right?
0 votes
JR Thrasher, Agent, San Diego, CA
Thu Sep 5, 2013
Anywhere from 30 days to 2 years in my experience. 2-4 months was the norm, but banks have been farming out the work to third party vendors lately and service has gone down hill so I feel the average time frame is going to increase.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Thu Sep 5, 2013
Jeff's right - The quickest we've closed on a short sale is 28 days after listing it... Typically it takes 2-4 months from the listing date -
0 votes
Correct!
Flag Fri Sep 6, 2013
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