Buying A Home
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Short Sale - how long did it take?
We are opening 45 day escrow on a short sale property today. If you purchased a short sale, how long did the process take before you got the keys?
TIA!
Re: Short Sale - how long did it take?
This is not necessarily the case everywhere but around my area they seem to be moving pretty quick if the sellers are still making their mortgage payments. I have a friend that closed last month and it only took about 70 days from the time the initial offer was made until closing. This was a local bank and they are more efficient that some of the national banks.
If the seller stops paying their monthly mortgage payment they are taking longer and still going in to foreclosure in some cases and the buyer never gets the house in the end. This is a sad case but it is happening.
Hi Tia,
I am a realtor in AZ Short sales are very unpredictable but the trend is approx 2-4 months. My longest one was 9 months! and my shortest one was 30 days. It also depends what banks your seller is working with. Some banks are more cooperative than others. If you know anyone who needs real estate help in AZ let me know! 480-330-6262
We put an offer in on a short sale recently. It took the bank (Bank of America) three months just to respond to our offer. They accepted, however in the mean time the house was broken into and all the appliances were stolen, two doors were damaged, among other issues. Bank of America would not negotiate the price despite the fact that our offer was based on the house pre-break in, so we walked away from the property.