Profile picture for user7896614

My daughter who has MS and is a single mother w/2 small childer on disability made a full offer on a

  • June 05 2012 - Portland
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (11)

Profile picture for Elie Ilano
[Spam deleted]
  • October 17
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Unfortunately it can take months to hear back from the bank. Look up the national statistics on time it takes to close on a short sale - it is over a year!
  • August 14 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

This is completley normal... Short sales vary from one to the next.  Some get responses within a couple of weeks from the lender/investor, while others take 6+ months.  If she is in a hurry to get into a home, maybe a short sale isn't right for her.  The average time for a response is usually right around 90 days, but depends on the sellers situation and response to requests by the lender, the lender/investors timelines, and the ability of the Realtor to talk with the lender and short sale negotiator.
  • July 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

More information is needed to answer the question.
  • July 02 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
Six weeks into a short sale offer and not getting answer yet is more usual than not, unfortunately.    Short sales tend to be something that one shouldn't get involved with without incredible patience and a very flexible timeline.   (This is not discrimination, simply being treated like everyone else.)

If your daughter wishes to avoid the frustration of shorts sales and foreclosures, then she will need to find a conventional sale for making an offer.  

Good luck!

  • June 05 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

It can certainly be frustrating waiting on a short sale.  Remember that one of the reason your daughter offered on that home was, I presume, that the price was sustantially below market, like most short sales.  So in today's environment one of the things buyers give up in return for a chance at a below market price is the expectation of a prompt answer from the lender.  You may want to read my blog post on why short sales take so long at [website deleted by Zillow  moderator. Please see our Good Neighbor Policy]
  • June 05 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for doralgate
Maria --- the full question is posted in thread...and the person has made an offer on the house already....definitely does not need ANOTHER Realtor
  • June 05 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

We cannot see ypur question. Trust you had positive results in your offer. If you were going at it alone. I highly recommend getting a local realtor to help you. Best of luck to you!
  • June 05 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If the home is part of Fannie Mae's HAFA-like short sale program, six weeks is not uncommon.

Supposedly, Fannie Mae and Freddie Mac are both stepping things up to give faster answers starting this month, but I'm not holding my breath.
  • June 05 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user7896614
home over 6 weeks ago, per the listing agent and her agent, they say they ccan't get an answer from Fanny Mae. Is this the norm, is there anyway to gget an answer from FM..Or is this discrimatory against her, she has been a approved for a mortgaage, has over $75,000 on a grant for downpayment.How do we get an answer??
  • June 05 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
It appears that your thoughts were cut off.  You can add more information by clicking on "post reply".
  • June 05 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.