West Sacramento Short Sale Information - How Long Does a West Sacramento Short Sale Take

West Sacramento Short Sale Specialist, Default Advocate, Distressed Property Expert and West Sacramento Short Sale Agent Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us. Today let’s talk about how long a typical West Sacramento Short Sale takes.

Now typical West Sacramento Short Sale – is there such a thing or is it an oxymoron like “jumbo Shrimp” or “bankrupt millionaire.” While there really is no typical short sale there is a format that many tend to follow. The length of time of course is going to depend on a number of variables such as who the lender is, how long it takes to get the financial package submitted and the length of time it takes to get an accepted offer.

With that said, in a balanced West Sacramento real estate market, it’s reasonable to expect to get an accepted offer within the first 30 days of the property being listed. In the market we are in now, 2 days is more like it.

Now the key to a quick approval is submitting a complete West Sacramento short sale package to the lender. This is where the cooperation of the seller is paramount. The longer the seller takes to supply the information the longer it takes to submit the package. Ideally before we get the offer we have everything from the seller except the most recent bank statements and pay stubs.

With the package submitted and confirmed recieved we can anticipate 1-2 weeks in review before the liquidation valuation is ordered in the form of either a BPO or full appraisal. The valuation process can take 7 -10 workdays.

With the West Sacramento Short Sale package in and complete and the valuation back, if it has not already, the file will be assigned to a negotiator or asset manager. Some banks assign the file before the valuation task, others after. It’s really bank specific.

Once the file is with the negotiator it will be reviewed again to confirm the information is complete and updated. The negotiator may request updated financials or other minor details many of which have already supplied. Count on about another 7 – 10 work days for this to happen.

If the package is complete, the offer matches the investors minimum net and the servicer has delegated authority the file will be approved and the West Sacramento Short Sale letter issued. If the servicer does not have delegated authority or the offer does not meet the minimum net the negotiator will either counter or reject the offer. The offer could also be sent to the investor for review. Again expect another 7 – 10 work days if this happens.

Once the West Sacramento Short Sale is approved the close of escrow will depend largely on the ability of the buyer to perform. Most banks will give one 30 day extension to the approval letter with VA being the exception with zero extensions.

So how long does a “typical” West Sacramento Short Sale take ? From start to finish, on average plan for about 4 – 6 months. Some will be less. Some like FHA and CalHFA will certainly be longer.

Is a West Sacramento Short Sale Right for Me?

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did.