Q. How do you speed up a short sale? I am already pre-qualified to the price the seller is asking. What is the average waiting period on a short sale?
So many variables. I once had an approval from lender, and they WOULD NOT email/fax etc me the letter insisting that it would be coming in the mail to my client. It took 21 days to get the letter! Really!
On the other hand, I had another short sale approval letter in hand 2 days after the offer was presented.
The buyer’s agent
The seller’ agent
The negotiator(s) (How many loans?)
The Mortgage Insurance company (if applicable)
The Escrow company
The method of communication (email/fax/equator/slow boat…)
I am being sarcastic but there is no definitive answer. Even if it is the same lender as last time, I have no way of predicting. I simply stay on top of it and make sure it happens as fast as the list above allows it.
Got a real estate question? Talk to CJ!