Once you get an offer from a buyer to purchase your property through a short sale, the entire package can be submitted to the bank to begin negotiations. The time that a bank takes to review an offer can take from a few weeks to a few months. As a general answer, it can take 60-90 days to get a response from the bank if they will accept the buyer’s offer price. After the bank accepts the offer, it usually takes another 30 days for the buyer to get all of their loan information completed and conditions met. Once that is done, you can schedule a date to close the sale. In conclusion, it generally takes 90-120 days from offer to closing.
Contact short sale specialists at Short Sale Colorado to find out how long your lien holder takes to review a short sale package: 303-578-6336.
Posted by JBowman | Posted in Uncategorized