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Why would a short sale selling agent need a very fast closing on a short sale? 4 week old listing.

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June 26 2009 - Los Angeles
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I think an agent would love to have a fast closing on any listing. A short sale can take a long time but it does not have to take a long time. A reliable contact person at the bank and the submission of a complete package will speed up the process.
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July 03 2009
To get a short sale done takes a long time.
Agents want to get rid of their inventory as fast as they can to help the next person.
Short sale process may take more then 3 months.

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July 01 2009
Many times, it takes so long to get the short sale approved that the buyer gives up and moves on to another property.  The short sale approval has a time limit on it, usually 2-4 weeks.  If the short sale is approved, and they are looking for a new buyer, they will need to close quickly.
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June 26 2009
A short sale is the last stop before a foreclosure.

Perhaps the bank has filed a notice of foreclosure and the agent needs to do a short sale prior to foreclosure.

Or perhaps the redemption period is nearing an end, and the agent needs to get the deal closed before the homeowner loses the home to the bank.
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June 26 2009
 
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