Short Sale Question
I am a rookie so any advice would be appreciated.
When is it too late to try to do a short sale?
If a seller calls you and the sale is in 7 days, is it too late to get involved in a short sale request?
When is the latest that you could feasibly get involved and still have time for a full short sale request?
I was under the impression that it takes about 3 weeks? Is this accurate? and if so should I not pursue a short sale request with less than 21 days to the sale?
Thanks in advance.
7 days would REALLY be pushing it. Do you have cash available or are you planning on flipping? Unless this is a possible great deal, i'd pass.
Quote:
On 2004-11-14 22:52, jbh5000 wrote:
I am a rookie so any advice would be appreciated.
When is it too late to try to do a short sale?
If a seller calls you and the sale is in 7 days, is it too late to get involved in a short sale request?
When is the latest that you could feasibly get involved and still have time for a full short sale request?
I was under the impression that it takes about 3 weeks? Is this accurate? and if so should I not pursue a short sale request with less than 21 days to the sale?
Thanks in advance.
In my opinion, 7 days is too tight a window... unless the homeowner can get the Sale adjourned or stopped via a Chapter 13 petition (which opens up another can of worms).
To be safe, I tell my Clients that it can take from 45 to 90 days or more from application to written short sale approval.