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How long is a home listed as a short sale before it goes into foreclosure?

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June 26 2009 - Chestnut Hill Township
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Thanks Terry !  I guess I just have to play the waiting game to see how this goes. I'm keeping my fingers crossed because I really like the house. Enjoy your day!
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June 26 2009
As stated in one of the prior emails it is totally dependent upon the lender or investors involved. In some of the harder hit areas they have been sitting for way over a year in short sale status. We have had buyers come and go on particular homes and as long as another offer is presented most of the lenders will work in trying to complete the short sale. .In other areas the banks are purposely holding off the foreclosures in order to try to stabilize those particular markets.I just resubmitted an offer for a client for a home in Concord, Ca that rejected his original offer, sent to trustee sale, sale has been postponed twice now  and we were told after our offer was resubmitted last week that the lender will more than likely work with my client's offer now.
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June 26 2009
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Thanks for the reply! This particular home is on the market as a short sale home for 280 days now. My realtor placed a bid for us 12 days ago, which i believe was too low.  But, trusted his opinion. We are still waiting for a reply. I know their were a couple of other bids also placed. If the offer is rejected can we submit another bid.
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June 26 2009
That depends on the lender.  It can take as long as 3 mths to 1 yr and in some cases longer.  Once the lender forecloses it will take up to 6 months to see it listed with a Realtor.
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June 26 2009
 
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How long is a home listed as a short sale before it goes into foreclosure?
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June 26 2009 | 4 answers
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