Posted on: 03rd Nov, 2011 11:53 pm
We made a short sale offer on July 25th. The seller began to send her package through some Bank during the start of August and said that the contract should close during the end of November. My lender is sending the paperwork for processing in this week. We haven’t heard from the seller’s bank after that. How long could this possibly take? We’re really very frustrated! We have gone for a straight forward deal!! Our Lender hasn't asked for the appraisal because we're still waiting on Approval of the short sale. Everything is very silent and we're nearing this CLOSING DATE without any PAPERWORK!!
Hi Celina,
I can understand how frustrated you must be feeling!! However, it is a fact that these days short sale or foreclosure sales take quite some time to get completed. I will suggest you to contact your Lender and check out when the closing will take place. He will be the best to answer and clarify your queries.
Take care
I can understand how frustrated you must be feeling!! However, it is a fact that these days short sale or foreclosure sales take quite some time to get completed. I will suggest you to contact your Lender and check out when the closing will take place. He will be the best to answer and clarify your queries.
Take care
Short sales take from 30 days to nine months (typically)
We have no way of telling you what your particular case will be. That depends on who the short sale lender is, how well they process short sales, how short the short sale is, how timely and accurate the seller submits paperwork to the short sale lender, etc
You may be frustrated, but, that is the process
To avoid that, buy a house that is not a short sale.
If you want to buy a short sale, you simply are stuck with however well it works out and that dpends on many different factors.
There is no way of telling if the short sale will even be approved, no matter how little or much time it takes for the short sale lender to arrive at a descision.
We have no way of telling you what your particular case will be. That depends on who the short sale lender is, how well they process short sales, how short the short sale is, how timely and accurate the seller submits paperwork to the short sale lender, etc
You may be frustrated, but, that is the process
To avoid that, buy a house that is not a short sale.
If you want to buy a short sale, you simply are stuck with however well it works out and that dpends on many different factors.
There is no way of telling if the short sale will even be approved, no matter how little or much time it takes for the short sale lender to arrive at a descision.
