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Replies (4)
- Shawn Ryan Rosa, "sryan1980"
- Contributions:493
It seems you are referring to a short-sale with a pre-approved price, meaning the bank has already appraised the home and given the seller approval to sell at the advised price. If you offer that price in full then you will have no problem. Since most of the work has already been done, you will be able to avoid the standard 3-6 month waiting period and close within a matter of 3-4 weeks.
- sunnyview
- Contributions:25139
Hard to say. Short sales often collect offers for a while before the bank finally approves one. Things have gotten a little better, but buying a short sale is still about patience.
- Rosina del Monaco, "DC Real Estate"
- Contributions:5
Chandler,
Ask your Real Estate Agent to ask the Listing Agent for a copy of the Short Sale Approval Letter.
If you get this copy and your offer matches the terms on the Short Sale Approval Letter you might get a fast answer from the bank ( 2 to 4 weeks) if it does not matches these terms most likely the bank will re-initiate the Short Sale Process and you might have to wait 3 months.
Good Luck,
Rosina
Ask your Real Estate Agent to ask the Listing Agent for a copy of the Short Sale Approval Letter.
If you get this copy and your offer matches the terms on the Short Sale Approval Letter you might get a fast answer from the bank ( 2 to 4 weeks) if it does not matches these terms most likely the bank will re-initiate the Short Sale Process and you might have to wait 3 months.
Good Luck,
Rosina
- Ofe Polack, "Ofe Polack"
- Contributions:1420
This question is not for us, really, but rather for the listing agent. There are no two short sales alike. Good luck!
short sale
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