Monday, June 2, 2008

Jacksonville Short Sale Update

For those of you that have wondered if it REALLY takes 90 to 120 days to close on a Short Sale, I'm here to tell you that it does!! At least that long! We put an offer on a property on April 3rd and here it is June 3rd (almost) and we have NOTHING from the lender! I have talked to the listing agent at least once a week since this game began and she is on the ball, but the lender isn't! They told her last week that they would look at the offers on this property on June 10th and try to have an answer by the end of June! agggggggghhhh. My poor buyer is about to blow a gasket! I warned him, but the reality is hard to accept. I never dreamed that it would REALLY take this long. Looks like this is going to be a "text book" short sale. 90 days until we find out if they accept our offer and then 30 days until we close. I'm not real crazy about these short sales. Patience never was my strong suit.

Can you get a good deal on a home that's a short sale? Absolutely. Does it really take 120 days? Absolutely. Buying a short sale is not for everyone. It's not for the faint of heart or anyone with patience or anger management issues.

If you think you're a candidate for a short sale deal, give me a call. I've been there and done that...