Short Sale Timeline
Lenders may take up to 120 days to decide whether to approve a short sale. The short sale could look like this:
You submit to the lender a short sale package with an accepted offer.
It takes two to three weeks to get through the first level of processing (lenders financial analysis).
Then, it's assigned to a negotiator and an appraisal is ordered by the lender.
You are now 30 to 60 days out from the date of submission.
The lender may decide to approve the short sale. Once you have received the lender's short sale approval, it may still take a few weeks or more to close escrow. Because the short sale process can be lengthy, the seller should attempt to get a buyer who is willing to stay committed for at least 90 days or so.
You submit to the lender a short sale package with an accepted offer.
It takes two to three weeks to get through the first level of processing (lenders financial analysis).
Then, it's assigned to a negotiator and an appraisal is ordered by the lender.
You are now 30 to 60 days out from the date of submission.
The lender may decide to approve the short sale. Once you have received the lender's short sale approval, it may still take a few weeks or more to close escrow. Because the short sale process can be lengthy, the seller should attempt to get a buyer who is willing to stay committed for at least 90 days or so.
