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Answers (9)
- Laurel Jaques, "LAUREL JAQUES"
- Contributions:65
I agree definitely depends on the negotiator. Had one close in 21 days (cash).
- Joseph Baylis "New Jersey", "jbaylis"
- Contributions:12
I closed over 20 short sale in 2011. The quickest was 30 days from listing to close.
- Nile Morin, "CapeCod Z.i.l.l.o.w"
- Contributions:991
Three years ago, I had a Chase Mortgage signed off and closed within 30 days. Times have changed...
- Candace Deshe, "Candace Deshe"
- Contributions:14
Litton Loans - amazing! 30 days from listing to close! Approval in the first week under contract.
NOT the norm in the short sale world!
NOT the norm in the short sale world!
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
I have had a wells short sale take 11 months and I have also had one take 3 weeks. All depends on the negotiator assigned to the file.
- David & Maria-Nella Landman, "PrimeOne Realty"
- Contributions:101
There is no way to know, and if someone is saying that has the proper recipe for sucess is lying. A short sale can be approved in 2 days if the lien holder is a small bank and has a LMD ( man and a dog in the basement) kind of operation, then he reviews and approves or declines in 48 hours. But if the LH is BOA for example or Wells Fargo, it can take forever. 3 months to 3 years...
- Eugen Pop, "Eugen Pop"
- Contributions:363
It comes down to a few different factors like lender, etc.. However, one of the important factors that most listing agents do not realize is how they treat their negotiator over the phone. Build a relationship with them and sympathize on how stressfull their job is. You will be suprised how much more motivated they are to work on your file than the last guy that called and said, "Are you kidding me? I sent those forms to you a week ago!". Think about how many rude agents they deal with on a daily basis. Being courteous to your negotiator will get you a loooooong way.
- sunnyview
- Contributions:25139
One agent in my area, seems to get them approved in about 90 days pretty consistently. She's one of the best. I asked her and she said her quickest SS was about 40 days.
- Connie Wildasinn, "Connie Wildasin"
- Contributions:1178
30 days to 2 years... they are fun! Now that was for the approval, the actual escrow - 7days to close.... show a clean title, send in the HUD for investor signoff, fund and record! Slam
What is the quickest escrow (including approval) any agent had selling a "Short Sale"?
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- 5.0/5.0
- (6 reviews)
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