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Answers (5)
- Pasadenan
- Contributions:21466
If you buy some "boxers", that "short sale" can be completed in less than 30 minutes.
- asugradinwa
- Contributions:37
Chances are the tax credit will be extented. But short sales do tend to take a while. Fastest I've ever heard of is 3 weeks, but most seem to be in the 2-6 month time frame to hear back from the lender. From everything I've heard BOA/Countrywide takes the longest.
- Randy Hooker, "GoingForIt"
- Contributions:395
Short sales are NOT an arena for a first time buyer, much less with a finite time in which to close (11/30/2009). Stick with bank owned properties or traditional sellers. For more details, read this: Short Sales: Reality or Mirage?
- Leonard Wallace, "greenbeltbroker"
- Contributions:9
Unfortunately, most of the lender representatives have no motivation to make the transaction work.
Here's a great article from the Washington Post that describes the situation:
Where Short Sales Stumble
Good Luck!
Leonard Wallace
Broker and President
Realty 1, Inc.
- HomeSand.net, "White Picture"
- Contributions:4398
Even with the normal sale, its may too late for the tax credit, let alone the short sales usually take minimum of 2 months just for the answer from the bank.
short sale question
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