How Long Should I Wait for Short Sale Approval?
How Long Should I Wait for Short Sale Approval?A reader asks: “I submitted an offer on a short sale almost 5 months ago, and we haven’t heard anything from the listing agent lately. My agent calls every week to find out if the bank has accepted our offer. Half the time the listing agent doesn’t call her back. We don’t know how many offers the bank is looking at or even if our offer is best. How long should a buyer wait for short sale approval?”Answer: Short sale buyers across the country are singing the blues right along with you. Every short sale is different and as much depends on the lender as it does on the listing agent. Some listing agents outsource their short sale negotiations to a third party, which can often delay a response. Qualify Your Short Sale Before Writing the Offer Before you decide to buy a short sale home, ask your agent to do a little groundwork first. Some of the things your agent mig
