How long does it take to get short sale approval? Typically lien holder approval in 90 days is an excellent result. However, it makes a huge difference who you work with!
Knowledge and experience make or break your short sale success. Who your agent is, and who is handling negotiations matter.
When I hear the stories about how short sales don’t work, it’s truly a short sale myth. The truth is those stories come from bad experiences due to poor advise and lack of support.
What if an auction is scheduled?
Facing an auction date can feel like it’s too late to get help. Not true! My clients home was scheduled for foreclosure auction on January 19th. When we met, they had given up hope and thought it was too late.
Working with Realestate Recovery Group we put the sellers short sale package together, opened communication with the lien holder, and got the property listed right away even though I had no access.
The former tenants changed the locks. It took two weeks to get permission from the asset manager to re-key the property and be able to show the home.
In the meantime, using aggressive marketing I built up buyer demand. After my first open house we had multiple offers. The first buyer canceled for personal reasons. So we moved forward with a back-up buyer and continued negotiations with the lien holder.
The buyers agent did an excellent job guiding her clients through their inspections and loan application. They were uncertain and nervous about short sales. She successfully collaborated and kept them on track. Now they celebrate their new home at a great price.
If you’re interested in buying a short sale or foreclosure, be sure to bookmark my Community Guide for instant access to distressed properties on the Main Line including off-market foreclosures.
How to get help?
There are solutions. Short sales do work and I’m here to help.