short sale

[befsquire]

it's an oxymoron. like jumbo shrimp. we can't even do an inspection yet, and it's already been almost a month.

so frustrating.

we might close by december 16th, according to the owner's bank. that was weeks ago, and we've yet to get a formal acceptance. the closest we are is "send your escrow check" and that was last week.

ugh.

[Kid Presentable]

Hey I was wondering where you went.

[befsquire]

to hell and back

:)

[Kid Presentable]

Aight.

[jabumbo]

at least you have an extended tax credit on your purchase, right?

[Rock]

I just went through one of these.....a lot of the hold up IS the owners bank. A lot of negotiating goes on and it took me about a month and a half of all that.

[skra75]

ballin'. selling houses sucks donkey dick.
also nice to see you again shithead, how you been?

[abbott]

short sale. my average short sale package is 170 pages. Typicaly I send them to the bank 3 times before they acknowlede reciving the package. Average time from accepted offer between buyer and seller and final bank approval is over 60 days. My best is 30 days.

WE had a package ready to close and it went back to the bank due to a grammer error, seems a middle inital was on some formsand not others and that 45 days ago.

I am not the #1 short sale guy but I have closed almost 100 this year and I expect short sales to peak in 2012 unless new laws change somthing.

I avoid short sales as much as I can, but I cant get away from them. If I were buying I would by bank owned or one that is not a short sale.