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Rainmaker
1,707,347
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I quit doing them two years ago, but two years is it for me. They have gotten harder to close again because the banks are not being pressed, and it is for them a better business decision to foreclose than short sale. Short sales was never about doing the right thing for the banks.

Apr 12, 2015 10:25 PM
Rainmaker
2,441,966
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Bank of America and Wells Fargo have both delayed closings for almost a year on multiple homes when I was doing Short Sales.

Apr 12, 2015 11:57 AM
Rainer
23,743
Eric Valente
Calabasas, CA
Eric

One year from start to closing. I was a listing agent with a negotiator in the house. We did push them hard since the homeowner was ready to leave, but they dragged their feet. Sometimes, it seems they are interested in keeping the defaulted property in there records as long as possible. 

Apr 12, 2015 11:52 AM
Rainmaker
1,624,372
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

OPver two years and not due to me, but the  so-called investor/bank. Lots of games, what with losing files repeatedly, etc. It was a big stalling game.

Apr 12, 2015 10:41 AM
Rainmaker
1,510,463
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

One year. There is nothing we could do. Sellers were ready, Buyers were ready, but the bank just took a lot of time. And even when all was approved, they requested almost 2 months escrow to close! We are were really annoyed.

Apr 13, 2015 06:00 PM
Rainmaker
51,491
Rebecca Howard
Coldwell Banker Residential Brokerage - Orland Park, IL
Recognized | Respected | Recommended

Hi Frank. If I recall correctly, a year was one of the longest. The average is about 2-3 months. It gets better with experience as you learn how to cut through the chase. Good experience but lots of work.

Apr 12, 2015 10:41 PM
Rainmaker
851,329
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Frank, our longest one wasn't too bad it was only four months.

Apr 12, 2015 09:44 PM
Rainer
25,344
Mari Armstrong
ArmsLink Realty - Murrells Inlet, SC
Offering You Honesty, Sincerity and Integrity

I"m in the process of one now, it's been 3 months already and doesn't look like it's going to happen any time soon.

Apr 12, 2015 09:41 PM
Rainer
209,877
Jaretta Buckholtz
Pearson Smith Realty, LLC - Manassas, VA
Passionate-Professional-Patient

I ratified a contract on 12/14/14; I close tomorrow - 4/14/15.  Four months.  This is my second one in two months...so it is running me, three to four months to close on a short sale.  I hope four months is the longest I will have to experience.

Apr 12, 2015 07:31 PM
Ambassador
2,759,387
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 I've talked with agents that have spent over a year on a short sale. That's a long time.

Apr 12, 2015 07:02 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Three months is my tops. I didn't think that was too bad and the buyer wouldn't have waited any longer than that.

Apr 12, 2015 12:37 PM
Rainer
60,591
Renee Paray
Coldwell Banker Preferred - Blue Bell, PA
REALTOR

I am working on one now. I had the listing for 3 months before I received a call from the bank that the home will become a short sale. Its been about 6 months now and we are nearly ready to close. 

Apr 12, 2015 07:08 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

One took two years, and it was a really miserable experience for the sellers.

Apr 12, 2015 06:46 AM
Rainmaker
5,570,688
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we always avoided short sales....I think we listed two of them during that horrendously challenging market.... we did new construction....

Apr 12, 2015 05:28 AM
Rainmaker
629,951
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

I don't recollect but I think one was close to 3 years!

Apr 15, 2018 11:26 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Almost 2 years - several contracts - structural damage - eventually the stars aligned...

Sep 11, 2017 04:06 AM
Rainer
66,214
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

18 months!  

Apr 13, 2015 04:01 AM