Zillow Advice: Home Buying - What should I expect when I have an executed contract for a short sale property? http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ Zillow Advice | Zillow Real Estate You should expect to wait ... http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ You should expect to wait 3 to 5 months for the seller's lender to approve or deny the short sale. Sat, 02 Nov 2013 12:32:00 GMT http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ 2013-11-02T12:32:00Z Hi Travis! First, we would ... http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ Hi Travis! First, we would have to specify between an executed contract meaning accepted by the seller but its still subject to bank approval or if you already have bank approval beside the sellers acceptance of the offer. Im guessing you are referring to the first scenario.&nbsp;<br/>If thats the case the time for bank approval and the process will largely depend on the bank who services the loan, the investor on the loan and the listing agent. If the price was previously approved it might be a shorter, smoother process. Theres many factors that will determine the outcome and how lengthy and smooth the process will be. I would be happy to give you some advise, just send me a message with the particulars and I will reach out to you. Thu, 03 Oct 2013 20:20:00 GMT http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ 2013-10-03T20:20:00Z Short sale is a very generic ... http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ Short sale is a very generic term. &nbsp;Without additional information, I agree with the others on the wait.<br/><br/>FHA insured loans are called "PreForeclosure Sales" -&nbsp;Va loans are called "Compromise Sales"&nbsp;On each of these loans, the servicer can order an appraisal prior to the property being listed. &nbsp;Most lenders will balk but push the right buttons and they will place the order for the appraisal. &nbsp;I prefer to wait for the Fair Market Value (FMV) to be provided otherwise, the pricing is a shot in the dark.<br/><br/>I prefer not to work conventional loans as the guidelines vary greatly depending on the investors and if they have mortgage insurance.<br/><br/>The fastest I've gone from contract to closing is 35 days. &nbsp;Most are much longer.<br/><br/>Best,<br/><br/>Bob Sorey Thu, 03 Oct 2013 03:32:00 GMT http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ 2013-10-03T03:32:00Z Executed by the seller or ... http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ Executed by the seller or also executed by the bank?&nbsp; If&nbsp; you only have the seller you have not got a fully executed contract.<br/><br/>As Craig stated - also a long wait. Thu, 03 Oct 2013 02:19:00 GMT http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ 2013-10-03T02:19:00Z Expect a long wait for lender ... http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ Expect a long wait for lender approval. Wed, 02 Oct 2013 20:34:00 GMT http://www.zillow.com/advice-thread/What-should-I-expect-when-I-have-an-executed-contract-for-a-short-sale-property/513855/ 2013-10-02T20:34:00Z