Mar
2
how long is a house usually on the market when it is being sold as a short sale?
Filed Under Short Sale Hardship
Debbie V asked:
before the bank foreclose on the house.
Keith
before the bank foreclose on the house.
Keith
Comments
One Response to “how long is a house usually on the market when it is being sold as a short sale?”
It depends on the following:
-Demand
-Discount
-ARV (After Repair Value)
But any case normally if a short sale is approved then there should be a buyer in place. 98% of lenders won’t even review and file for a short sale without a contract of sale. That is most likely the most important document needed for a short sale. Personally I’ve seen buyer’s back out and that same property may only sit on the market for a week or two depending on the factors above.