Created on April 27, 2010 by Phil Leng using FlipShare.

How long does it take when the property is a short sale? The owner approved the offer, but what about the bank? How long does it take? I’m trying to get an estimate. Thanks
Well it makes sense that the banks should accept any offer because once it goes into foreclosure, they might even have to lower the price even more? So I don’t understand what the bank has to gain/lose..it’s on the road to foreclosure anyway!!

After more than 2 months of waiting, my agent told me that there war already a verbal approval from the bank. That was May 17, 2009. I was told that we had first to wait for the approval letter before we could take the next step. Now is already Jun 3, 2009 and nothing yet from the bank. I’m just wondering if this is the normal procedure. Please give some advice