short-sale-time-line | Market Updates

Details: Category: Market Updates Market Updates; Published: 14 October 2009 14 October 2009; Hits: 14491 14491

How long does it take?

So many people have asked me how long does a short sale take... Wow! What a loaded question!

After working short sales for several years now, in different markets, I have come to know that there is no straight answer!

It all depends on the 3rd party lender(s), the person(s) you get on the phone, what type of loan(s) the seller has, the mood of the negotiator, the cooperation and timeliness of the seller and a miriad of different variables.

I hope this Short Sale Time Line graphic will help you visualize this tedious process in a simple fashion.

Short Sale Time Line

Currently I have 27 short sale files that I am processing and negotiating with the banks or mortgage companies. Each lender has their own process and criteria necessary to process toward the approval.

Sellers:

You must be cooperative and timely with providing information/documentation as the lender/negotiator requests it.

Your house must be kept in marketable condition. It is still a product on the market and you are still responsible for the condition of the home as well as taxes, insurance, irrigation, maintenance, etc. Don't abandon the property.

Some sellers actually rent the house out, if they must move. This provides for some interim income and keeps someone in the home to maintain it.

Buyers:

You must be patient! There are no quick answers. This process is time consuming and can become frustrating. If you are in a hurry to move, you may not want to consider a short sale.

If the house is vacant, you may want to consider offering the seller to rent the property and help them maintain it. This will often times lock you into the deal as THE buyer. Just beware that things happen, it might be declined or even foreclosed on & you may have to move.

You can search Short Sales in Idaho as well as Search Distressed Properties right here! These Idaho MLS listings are updated daily and have the latest status available to view Idaho homes!

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Contact Me Today!

Don Wixom
RE/MAX Executives
16201 Idaho Center Blvd.
Nampa, ID 83687
Direct: (208) 880-5039
Office: (208) 466-0002
Fax: (208) 466-2227
Email:
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Realtor, ABR, CRS, GRI,
e-Pro Internet Professional

Quality Service Certified®

2000 "Realtor of the Year"

What my clients say

"Thank you Don for your considerate and professional help on selling our house. Your informative correspondance we recieved before deciding to list it, got you the house, and your continued contact to let us know what efforts were being made to advertise and show the house were greatly appreciated. Showing mutual respect, we feel like we have made a new friend!"
~ Bill and Sharrel Cash, satisfied sellers

"Thank you so much for all of your efforts, patience, perseverance and professional behavior through the ordeal of selling our house. The way you dedicated yourself to your work and to our needs truly showed your eagerness and ability to help. Thank you again."
~ Jan Byers, satisfied seller

"Just wanted you to know that we really appreciate how smoothly the sale of our home went. It really could not have worked out any better. The wide marketing of our home you initiated really paid off. Thank you for a terrific experience. You have our highest recommendations, and we'll be more than happy to pass it along. God Bless!"
~ John and Jeanie Mowery, satisfied sellers

"We cannot thank you enough for your time and patience in finding our new home. There's no way we could've done it without you! You made all our dreams come true and we will always hold you dear for that."
~ Meguel and Kris Escutia, satisfied buyers

"Thanks to Don Wixom, we have been enjoying our new home for six months now. Don as the realtor selling our house worked very hard for us. He helped us through all the complex paperwork involved in making offers, getting a loan, etc. Don paid attention to detail and kept us well informed about how things were going. When things needed to be done, Don was readily available, seeing us through a home inspection, even crawling under the house in the dirt and cobwebs when we asked him to. Don was always only a phone call away. We still remember his phone number, we called him so much! Don has a wealth of experience and resources to offer. We would definitely recommend him to anyone wanting to buy or sell real estate."
~Scott and Naomi Watson, satisfied buyers

"We were long distance buyers. We had been through some major life changes in 2005 and had first contacted Don Wixom in August of 2006. He stood by us 2 1/2 years showing us houses, driving out to houses and emailing us pictures when we were unable to go ourselves, never knowing if he actually would have gotten a sale from us and he never complained or pressured us once.
He always treated us with great respect as if we were his only customer. Don has done more for us than we would have done for ourselves. He gave us great advice. He was always learning what it was that we were looking for. As our needs changed midway through our searching he adjusted to them.
His website allowed us to search the multiple listing service without addresses and phone numbers needing to be given. He would always check into and answer our questions and requests.
When buying or selling in Idaho we would never consider anyone but Don Wixom. He stayed with us for the long haul and we will stay with him."
Steve and Jean McBee, Buyers Nampa

"Thanks Don, for the link to IDX app for iPhone. Works great! All the information I need right at my finger tips! Thanks for always leading from the front!"
Ernie Garza, Buyer