Attorney Advantage: Short Sale Approved in One Week
There is hope for Arizona homeowners still finding themselves facing a short sale, some banks have their acts together.
At Wells Law Group, we have had a short sale approved in five days and in thirty more the homeowners were on the way with the rest of their lives. . . It is true that is not the normal timeline for the approval of a short sale, but at the Wells Law Group we speak with clients everyday that hear only the horror stories associated with negotiating a short sale with the banks.
The truth is a short sale can take a very long time if not negotiated correctly but it doesn’t need to. An experienced short sale attorney that understands the short sale process is invaluable when negotiating with your bank.
A normal short sale follows the below timeline, it is likely what most homeowners should expect if considering a short sale while represented by the Wells Law Group:*
Day 1: Free Consultation – fill out short sale packet and listing documents from the Wells Realty Group.
Day 2-30: Reviewing short sale documents – listing house for sale and getting an offer on the house.**
Day 31-60: Submitting short sale packet to the bank – valuation of the property by client’s lender.
Day 61-90: Receipt of counter-offer – deficiency waiver negotiation -value dispute.
Day 90-120: Approval – agreement notice.
Day 120-150: Buyer inspection period – buyer funding period -close of escrow.
To sit down with an experienced real estate attorney at the Wells Law Group, call (480) 428-3290 today. Our attorneys will discuss each of your available options and answer all of your questions.
*Every short sale is different. The above timeline is a generalization based on average times for short sales negotiated and closed by the Wells Realty & Law Groups. We can give each client a better idea of the amount of time required for the short sale of their home in the free consultation after reviewing their lender information and the status of their loans.
**Offer for purchase of home can take an indefinite amount of time and is not controlled by the Wells Realty & Law Groups. All reasonable efforts to obtain an acceptable offer will be made.