A short sale takes longer than a regular home sale, usually six to twelve months. The slow part isn't finding a buyer. It's waiting on the lender to review and approve everything. Knowing the steps ahead of time makes the wait a lot less stressful. Here's the honest version.
Weeks 1 to 2: The first look. We sit down with you, review your loan and your situation, and confirm a short sale actually makes sense. If it does, we get you set up. If it doesn't, we tell you.
Weeks 2 to 4: Pricing and listing. We price the home to attract a serious buyer while still meeting what the lender will accept. Getting this balance right is most of the skill.
Month 1 to 3: Finding a buyer. We market the home and look for a buyer who understands a short sale takes patience and is willing to wait for lender approval.
Month 2 to 4: The package. Once we have an offer, we put together everything the lender needs. That includes your hardship letter, financial documents, the property analysis, and the buyer's offer.
Month 3 to 9: Lender review. This is the long stretch. The lender's loss mitigation team reviews the file, sometimes orders its own valuation, and decides. We stay on top of them the whole way so your file doesn't get lost in a pile.
Month 6 to 12: Approval and closing. Once the lender approves, you head to closing like any other sale. Where it's available, we help you tap into relocation assistance the lender may offer.
Timelines vary, and second mortgages or other liens can add steps. The thing to remember is that someone is steering it for you the entire time. You won't be guessing what's happening or chasing the bank yourself.
Have questions about your own timeline? A free consultation is a good place to start.
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