Hello everyone, Kelly Cook here with the Cook & Associates Real Estate Advisors, your :k1: short sale specialist. We can be found online at www.azkcrealestategroup.com; we service and help homeowners across the entire :k1: area short sell their properties and find alternatives to foreclosure if they are underwater.
Today we are addressing one of our frequently asked questions, “How long does the short sale process take?” The simple answer to that is approximately ninety days. You also have the time in front of that, which is the marketing period where you have to find a buyer and obtain an offer on the property. Then there’s the negotiation period where we submit everything to your lender up until the point where we negotiate the lender’s approval. This usually lasts about ninety days. The last stage is the escrow period; this is the time it takes the buyer to close on the loan, which usually takes about thirty days. It could easily be up to 180 days to complete the short sale process, but on average it usually takes about 90 days.
There are also other factors that could impact the length of your short sale transaction, such as who your bank is or who your investor is. It’s always good to have a qualified and experienced short sale agent like the Cook & Associates Real Estate Advisors help you out. If your short sale process gets stuck and is slow moving, we can call upon one of our contacts that we’ve established a relationship with over the years.
If you are stuck in negotiations that have gone nowhere, it’s always good to be able to contact someone on the inside of the company to help you out and find a solution. Again, you can only get these things by hiring an experienced agent that is well-practiced in short sales. Please contact us on our website, via the live chat, email us or give us a call at our office. We look forward to hearing from you and helping you with your short sale.