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how long does it tke for a short sale to be approve once a negotiator has been assign

  • December 04 2009 - Fontana
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Answers (10)

Best Answer

A negotiator is assigned when the offer is submitted along with required short sale docs...they will proceed to order a BPO to determine the property's fair market value and acceptable payoff amount(s).  When they approve the short sale payoff amount(s) it goes very quickly. 
  • December 05 2009
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Profile picture for Chelsy
Connie, can it be only 15 days? which bank are you talking about?
  • February 24 2010
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15 days to 15 months... no way to really tell...
  • February 24 2010
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Profile picture for Chelsy
I wonder how long will get the approval after the bank did the BPO, and have all required document plus offered price higher than BPO pirce?
  • February 23 2010
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Profile picture for 99_price_coming
???
  • February 21 2010
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anyone? is wamu doing faster on short sales now?
  • February 21 2010
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Wamu is Chase now. Will they make repair or credit the repairs?
  • February 20 2010
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Wamu took 6 months.
  • December 05 2009
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Profile picture for Liz Sibet
It depends who the lender is.  Often local banks and credit unions respond much faster than large national banks. Bank of American continues to be one of the worst and slowest.  Wells Fargo is typically taking just 6 weeks right now. In general it varies between 6 and 12 weeks.  All the holidays between end of November and early January cause a delay because of so many lost business days before and after the three holidays.
  • December 04 2009
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Profile picture for The LaPeer Team
There is not one clear answer. Ten to twelve weeks is probably average. If the negotiator is changed, paperwork is lost, BPO's/appraisals come back high, etc. can all delay the process. Plus, we are coming up on the holidays and it seems everything slows down at this time of year.
  • December 04 2009
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