I agree with ANON, if it's a local bank and the seller has been in contact with them it can go really fast! Our seller had her bank approval within the first 24 hours.. however.. if it's a huge national bank that they are dealing with and the seller isn't on the ball about things, it can drag on for 6-9 months. Especially now that there's a such a huge inventory of short sales/foreclosures- and there really is no room for negotiation monetarily, unless it's a huge health/safety issue. We got our price down an extra $5,000 for a water radon system! I'd go the normal route unless you find a huge bargain on a house that has minor repairs needed! Good luck!
at 3:12 PM on Jan. 24, 2010