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Short sales

We just put in a bid on a short sale home, but know that usually means a longer wait. Has anybody bought a short sale? How long did you wait?

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Asked by JawgaMom1 at 2:42 PM on May. 10, 2010 in Money & Work

Level 17 (4,475 Credits)
Answers (2)
  • We tried to sell our house on a short sale, we did everything the mortgage company asked for numerous times, faxing up to 75 pages at a time within the week of the offers. Three to four months would pass and hear nothing, then not high enough offers.
    Some friends of ours just bought one and it took almost 6 months, after their offer was finally accepted he appraisal was not high enough due to home values falling. New offer at what the appraisor said it was worth only took about a month to go thru and they ust got in the house.
    Be patient but yet have your realtor keep asking, I think that seems to help.

    Answer by Anonymous at 4:51 PM on May. 10, 2010

  • Thank you! We are comfortable with the wait, as we both love this house. I guess we're trying not to get our hopes up just in case it all falls apart. Crossing fingers, toes, and eyes that it all works out. *sigh*

    Answer by JawgaMom1 at 3:44 PM on May. 11, 2010

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