Activity Lately

[fm]

nesposito – I’m curious, how long did it take for the short sale to get back to you?

Thanks

[SD Realtor]

Hi Nicole –

Yep your story is one that I have seen/heard alot. Again, I am not sitting here advocating that anyone buy a home, just that for those who are actively looking, that it is pretty frustrating right now.

That is great news on your short sale. Generally it takes about 7-10 business days from the “verbal approval” from the lender until they generate the lien release letters. Have your agent continue to hawk them for the lien releases. Once you have them then you are in fat city and can breeze. I would advise that you don’t start the contingency clock until those letters are received and then it is all systems go. The turnaround time for your short sale was pretty quick… seems like you only submitted that offer a few weeks ago. That is great to hear. I have seen people post that it is a waste of time to offer on short sales but smart buyers know better.

Also the best and final offer game is usually played more on REO properties then on short sales but I have seen it both ways. I agree about the fall… we need to get through this spring. No doubt the market will go down, it just will take awhile.

SD Realtor

[SD Realtor]

Hi Nicole –

Yep your story is one that I have seen/heard alot. Again, I am not sitting here advocating that anyone buy a home, just that for those who are actively looking, that it is pretty frustrating right now.

That is great news on your short sale. Generally it takes about 7-10 business days from the “verbal approval” from the lender until they generate the lien release letters. Have your agent continue to hawk them for the lien releases. Once you have them then you are in fat city and can breeze. I would advise that you don’t start the contingency clock until those letters are received and then it is all systems go. The turnaround time for your short sale was pretty quick… seems like you only submitted that offer a few weeks ago. That is great to hear. I have seen people post that it is a waste of time to offer on short sales but smart buyers know better.

Also the best and final offer game is usually played more on REO properties then on short sales but I have seen it both ways. I agree about the fall… we need to get through this spring. No doubt the market will go down, it just will take awhile.

SD Realtor

[SD Realtor]

Hi Nicole –

Yep your story is one that I have seen/heard alot. Again, I am not sitting here advocating that anyone buy a home, just that for those who are actively looking, that it is pretty frustrating right now.

That is great news on your short sale. Generally it takes about 7-10 business days from the “verbal approval” from the lender until they generate the lien release letters. Have your agent continue to hawk them for the lien releases. Once you have them then you are in fat city and can breeze. I would advise that you don’t start the contingency clock until those letters are received and then it is all systems go. The turnaround time for your short sale was pretty quick… seems like you only submitted that offer a few weeks ago. That is great to hear. I have seen people post that it is a waste of time to offer on short sales but smart buyers know better.

Also the best and final offer game is usually played more on REO properties then on short sales but I have seen it both ways. I agree about the fall… we need to get through this spring. No doubt the market will go down, it just will take awhile.

SD Realtor

[SD Realtor]

Hi Nicole –

Yep your story is one that I have seen/heard alot. Again, I am not sitting here advocating that anyone buy a home, just that for those who are actively looking, that it is pretty frustrating right now.

That is great news on your short sale. Generally it takes about 7-10 business days from the “verbal approval” from the lender until they generate the lien release letters. Have your agent continue to hawk them for the lien releases. Once you have them then you are in fat city and can breeze. I would advise that you don’t start the contingency clock until those letters are received and then it is all systems go. The turnaround time for your short sale was pretty quick… seems like you only submitted that offer a few weeks ago. That is great to hear. I have seen people post that it is a waste of time to offer on short sales but smart buyers know better.

Also the best and final offer game is usually played more on REO properties then on short sales but I have seen it both ways. I agree about the fall… we need to get through this spring. No doubt the market will go down, it just will take awhile.

SD Realtor

[SD Realtor]

Hi Nicole –

Yep your story is one that I have seen/heard alot. Again, I am not sitting here advocating that anyone buy a home, just that for those who are actively looking, that it is pretty frustrating right now.

That is great news on your short sale. Generally it takes about 7-10 business days from the “verbal approval” from the lender until they generate the lien release letters. Have your agent continue to hawk them for the lien releases. Once you have them then you are in fat city and can breeze. I would advise that you don’t start the contingency clock until those letters are received and then it is all systems go. The turnaround time for your short sale was pretty quick… seems like you only submitted that offer a few weeks ago. That is great to hear. I have seen people post that it is a waste of time to offer on short sales but smart buyers know better.

Also the best and final offer game is usually played more on REO properties then on short sales but I have seen it both ways. I agree about the fall… we need to get through this spring. No doubt the market will go down, it just will take awhile.

SD Realtor

[Nicole]

Hi SD and fm- we actually put in the offer in mid-February, but I didn’t mention it on the forum because there were so many offers on, we didn’t think anything would come of it. We were quite surprised when we heard a few weeks ago that the short sale was approved, but they hadn’t yet decided which offer to accept. I could be mistaken, but i think it was you who gave the advice to someone about short sales- put an offer in and keep on lookin’ That’s the best advice about short-sales that I’ve heard.

Thanks for the advice about how to proceed from here- very helpful once again, i appreciate it!

-nicole
new house hunter

[Nicole]

Hi SD and fm- we actually put in the offer in mid-February, but I didn’t mention it on the forum because there were so many offers on, we didn’t think anything would come of it. We were quite surprised when we heard a few weeks ago that the short sale was approved, but they hadn’t yet decided which offer to accept. I could be mistaken, but i think it was you who gave the advice to someone about short sales- put an offer in and keep on lookin’ That’s the best advice about short-sales that I’ve heard.

Thanks for the advice about how to proceed from here- very helpful once again, i appreciate it!

-nicole
new house hunter

[Nicole]

Hi SD and fm- we actually put in the offer in mid-February, but I didn’t mention it on the forum because there were so many offers on, we didn’t think anything would come of it. We were quite surprised when we heard a few weeks ago that the short sale was approved, but they hadn’t yet decided which offer to accept. I could be mistaken, but i think it was you who gave the advice to someone about short sales- put an offer in and keep on lookin’ That’s the best advice about short-sales that I’ve heard.

Thanks for the advice about how to proceed from here- very helpful once again, i appreciate it!

-nicole
new house hunter

[Nicole]

Hi SD and fm- we actually put in the offer in mid-February, but I didn’t mention it on the forum because there were so many offers on, we didn’t think anything would come of it. We were quite surprised when we heard a few weeks ago that the short sale was approved, but they hadn’t yet decided which offer to accept. I could be mistaken, but i think it was you who gave the advice to someone about short sales- put an offer in and keep on lookin’ That’s the best advice about short-sales that I’ve heard.

Thanks for the advice about how to proceed from here- very helpful once again, i appreciate it!

-nicole
new house hunter

[Nicole]

Hi SD and fm- we actually put in the offer in mid-February, but I didn’t mention it on the forum because there were so many offers on, we didn’t think anything would come of it. We were quite surprised when we heard a few weeks ago that the short sale was approved, but they hadn’t yet decided which offer to accept. I could be mistaken, but i think it was you who gave the advice to someone about short sales- put an offer in and keep on lookin’ That’s the best advice about short-sales that I’ve heard.

Thanks for the advice about how to proceed from here- very helpful once again, i appreciate it!

-nicole
new house hunter

[sdrealtor]

Good luck and Hope it goes well neighbor to be.

[sdrealtor]

Good luck and Hope it goes well neighbor to be.

[sdrealtor]

Good luck and Hope it goes well neighbor to be.

[sdrealtor]

Good luck and Hope it goes well neighbor to be.

[Author]

Posts