Then on the other excessive, you record the house as a short sale, the financial institution then decides whether or not or not they’ll do the short sale. So what takes so long? Nicely, here is the way it works; we checklist the house on the market, discover a buyer, and get into a contract. That’s just the start of the process. So, after that you have to submit your information to the bank. It is much like making use of for a loan, however in reverse. You’re making use of to get out of a loan. So your information is submitted to the bank, then it gets reviewed by the financial institution and submitted to the investor. Once they make a decision, they consider the property, then finally they are going to present terms of a short sale. Then escrow begins which will be 30 to 45 days.
Some could be accomplished in 30 to 45 days from the time we listing the home to when it closes. Some short sales take months and months to close.
So, if you have any questions or would like to list your property as a short sale, please give us a call. I am Jeff Green with the Jeff Real Property Team. We’re northern California’s premiere short sale team. Thank you very much, and have an awesome day.
Get more help from short sale Realtors, Jeff Green and Jeff Reyes, at Alternatives 2 Foreclosure presented by the The Jeff Team of California