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Purchase of Short Sale Question?
Asking price of approved short sale was $199k. We offered $190k. Sellers accepted, and we're waiting for the bank. (Our agent supposedly has a good response and able to call the bank negotiator). We our offer was accepted July 6th (by seller). We put in our offer we must have a response by July 31st, or else we can recind our offer. Do you think they will respond before then, if at all? Thanks!! We're in San Diego.
Please serious responses only. :o) I'd appreciate it.
PS: We're only dealing with one bank...not 2.
How long does this process usually take?
1 Answer
- Anonymous1 decade agoFavourite answer
My son just went through a Short Sale in Merced and it took over two months. I am a licensed real estate agent and can tell you it is totally in the lender/banks hand. Most institutions are working short staff and process is taking a little longer with all the foreclosure that are happening maybe with luck and if your agent is persistent.