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how long to close a short sale once the the HUD-1 was accepted and submitted?

  • November 06 2012 - Clearwater
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Answers (7)

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Thanks for the response--we walked away from the deal.  Bank o fAmerica is absolutely the worst company to work with on a short sale and if any of you out there are considering going short sale with BOA--DON"T DO IT!!!
  • November 27 2012
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Unfortunately you are not getting the answer you want because no one knows the bank or the title company and what the "usual" time is for closings in your area with those entities. Ask your agent if they will contact the title company to get their estimate of the bank's "usual" time frames if they know it.

Martha
  • November 27 2012
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Profile picture for user5634654
Thanks for the replies, but I stil don't have an answer to how long it should take to close this thing once we have the HUD-1 was accepted and submitted?  I know that eventually we will get a closing date, but I am looking for a ballpark timeframe that we can expect to get that closing date--are we still weeks away from closing or is it days? The seller's realtor is useless w/ giving me or my agent info--thanks!
  • November 07 2012
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Once the HUD is accepted by the sellers bank, they will supply an Approval letter, which will have all closing details and deadlines.

Holly Gorsuch
Real Estate Agent
Keene, NH
  • November 07 2012
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Once the lender has approved the HUD1, the closing time would be determined by how quickly the buyers title officer /attorney and bank can get their end of the transaction done.

The bank will simply need a signed copy of the HUD1 after closing (as well as other necessary documents).
  • November 06 2012
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Profile picture for Cindy Quinton
What does your agent say? In OK most deals CAN close within days (if not hours) of an accepted HUD-1.
  • November 06 2012
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Short sales vary but they never close as fast as you want them to close.
Have your agent contact the negotiator assigned to the property for status.
  • November 06 2012
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