Short sales are becoming more and more popular now because of the looming foreclosure crisis. But just like the terms "jumbo shrimp" or "old news", a "short sale" is not a "short" sale at all. In fact, usually short sales take a really long time.
For example, I wrote an offer on a short sale property in mid-January. The offer still hasn't been reviewed and approved by the bank yet. The earliest we'll most likely be closing is late-March, maybe even April. Is 3 months a "short" sale? No way Jose.
Don't get me wrong. Sometimes short sales can progress and close fairly quickly, but not usually, unfortunately.
For more on short sales, or what a short sale is, please feel free to comment or contact me.
Dan Hamilton
Keller Williams Greater Columbus Realty
www.HamiltonHomesGroup.com
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