Q:

What is the typical time line for the short sale process?

A:

Quick Answer

It can typically take four or five months to complete the short sale process. Short sales are known for being a long process due to the paperwork and processes the buyer, seller and lender must go through, notes Fox Business. The stages that occur are the marketing, submission, negotiation and closing stages, with each taking around a month on average.

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Full Answer

During the marketing stage, the seller looks for someone to buy the property and enlists the help of a real estate agent, a process which can take one or two months. After the seller finds a buyer to buy below the property's market value, the submission stage begins when the short sale request and all necessary documentation are sent to the lender. After this stage is complete, the negotiation process involves the lender seeking a valuation of the property, and the investor approves the final sale, according to Michael Gaddis, J.D. Reality Group. Finally, all final inspections, paperwork and appraisals are completed to close the deal.

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