There is nothing short about a short sale - at least in terms of time. I represent a young couple - first time buyers - who found the home of their dreams in May. It is a beautiful house in Laveen, AZ - and has everything that they want. What we didn't know at the time we made the offer was that there were three loans on this short sale. That's not to say that we should NOT have known, but we didn't. We knew there was more than one, which I assumed meant two - yet another reason never to assume.
We got word this morning that the third (and last) of the seller's lenders has approved the short sale - which leaves buyers two weeks to get an appraisal and sign closing papers. They are excited. If all goes as planned, it'll be five and a half months from start to finish. Worth the wait.
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