Back in March I talked about short sales and The Waiting Game. We were waiting for a response on my clients’ offer to purchase a short sale property and at that time it was 27 days and counting. That number pales in the full extent of the wait!
My clients made their offer February 18th. Last week the seller got bank approval for the short sale…we got the purchase agreement yesterday…we are making progress!
The bank said their short sale approval was good for closing by July 18th…exactly 5 months after submitting the offer. After months of waiting we are suddenly in a flurry of activity…hopefully the inspection will not hold any big surprises, my buyers’ financing with pull together quickly and we will be closing soon.
It’s been a long wait, one which many buyers are not able to deal with because of leases or the sale of other property. My clients are fortunate to be in a position where they could wait…was it worth it? I’ll keep you posted and let you know!