Short sales..

LikeAnOcean
LikeAnOcean Posts: 7,718
edited May 2012 in All Encompassing Trip
Why do they take so long?

I just got locked into one on a condo and will now be playing the waiting game.

Obviously it's up to the bank, but shouldn't it be a quick decision, and who at the bank decides?

My buddy bought a short sale and fortunately it went through in a couple of weeks. I'm not sure why his moved so fast when the average short sale takes 200 something days.. My realtor seems to think mine may take just a few months, but who sits on this decision and why???
Post edited by Unknown User on

Comments

  • Slap upside the head
    Slap upside the head Posts: 904
    Midgets?
  • youngster
    youngster Boston Posts: 6,576
    Slap upside the head wrote:
    Midgets?

    :lol::lol:
    He who forgets will be destined to remember.

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  • Jamminonthe1
    Jamminonthe1 Posts: 1,243
    The bank is losing a lot of money, while you and the seller are gaining. Not that I feel bad for the bank...
  • Out of My Mind and Time
    Out of My Mind and Time Posts: 1,333
    I've been in the banking industry for over 15 yrs. I still do not know why everything takes forever. It depends on the bank size. Keep in mind these banks are dealing with tons of these deals. Also tons of red tape. New government regulations are not helping speed. Condos can add a little more of a challenge as well. Every deal is different. Patience and knowledge is key.

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