| How long does a short sale take? Well it depends on | | | | Should I offer full price or below. You have to take |
| many things among but not limited to the whom the | | | | into account the market of the home you are bidding |
| sellers lenders are and their particular processes and if | | | | in. PLUS the sellers lender will do their own appraisals |
| there are investors. | | | | and broker price opinions. Most will allow an offer |
| Short sales are definitely worth the wait if it is the | | | | within 10% of their appraisals as long as their net |
| area you are seeking and the home has the | | | | meets their particular standards. Do NOT expect the |
| attributes you are looking for. BUT expect a wait of | | | | sellers lenders to pay for repairs, upgrades or termite |
| a minimum of 3 months to 6 months sometimes 2 | | | | clearance. Most will give closing costs back to the |
| months ... in rare cases long than 6 months. If you | | | | buyer. Most will pay what is normal and customary |
| need to close faster don't put offers in on a short | | | | for sellers to pay in their particular area. |
| sale... | | | | Make sure you are working with a knowledgeable |
| The one caveat there are no guarantees the sellers | | | | agent. As the recent past has shown not all Realtors |
| lender will approve the short sale or your offer. | | | | are created equal and/or have the experience and |
| However the greatest percentage of the dozens I | | | | knowledge to navigate buyers through the |
| have been involved were approved and did close. | | | | sometimes complex process of purchasing a home. |