How long does a short sale process usually take?
The several stages involved in the short sale process. Here is a very brief overview of the process: 1) Homeowner completes documentation required by lender (a couple of days). 2) Homeowner lists property with real estate agent (a couple of days) . 3) Marketing of the house and getting an offer from a willing, ready, and able buyer (varies, but generally 3-8 weeks). 4) Preparation and submittal of short sale package to lender. Phoning, faxing, emailing constantly with lender(s) to negotiate the approval of the sale (30-90 days, depending on lender). 5) Short sale approval granted by lender and transaction can close (15-30 days).
