This is one of those questions that doesn’t have an easy answer for anyone. Most of the time the answer to how long a short sale will take is bank specific. Most short sale timelines are completely situational. However, we can give you some guidelines on short sale timelines.
Most Banks won’t consider a short sale without an offer, so we’ll start here.
Short Sale Timeline
0- 30 Days – Jarvis Team Gets An Offer on the home.
90-120 Days – Negotiating with Bank for Approval of Short Sale
30 Days – Buyer to close on property
Total: 180 days (6 Months) for a short sale to be completed from start to finish.
If you happen to be worrying about the foreclosure notice during this time, then rest a little easier. We’ve not lost any homes due to foreclosure while we have a valid offer. We can usually postpone the foreclosure without much trouble.
Do you have questions about the Short Sale Timeline? Remember, it’s bank specific, so Suntrust short sales are going to take much longer and Bank of America Short Sales are now much shorter.