Posts Tagged ‘once’

I have put an offer for a short sale property and the seller will be signing the contract soon. Once this is done what has to be done next.

Can someone put in steps

I don’t need an exact time-frame just an approximation of an average short sale. As of today it has been 78 days and we have not heard anything from the lender at all?
Ryan B – We know that the offer is not lost, nor have they accepted another as the seller’s agent just talked to the bank this morning. We are just waiting for the lender to get a move on this.

My fiancee and I made an offer on a short sale property on June 23rd. The bank came back to us today with a contract addendum signed by them and the selling agent. Any idea on how long this process can take from today on? Any insight on the situation would be great though, because I am very unfamiliar with the whole process.

Usually when I find a property that is in default it is vacant. In order to start a short sale do I have to contact the borrower or can I contact the lender directly? I only ask because it seems the only way I can contact the borrower is to send a letter and hope it gets to them and then hope that they answer it. Is there a better way?

Thanks in advance.