Just wanted to send a little post out telling about my current experience with a short sale that I am working on. The owner is now Bank of America, who recently bought out Countrywide (Link). I brought a buyer who was willing, ready and able to purchase. We submitted an offer that was very close to asking and we submitted a pre-qualification letter with our offer. Three months later, we have still not heard from the seller. They keep telling the listing agent to call back later. Fortunately, my buyers are being patient. They understand that in order to get this particular deal, they may be waiting for 3 more months. Are short sales a good deal? They can be, if you are patient. In my experience, you'll need to wait several months to close on a short sale deal. If you have that kind of...
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