Unfortunately, many, if not most "short sale"  listed in the MLS are not approved "short sale"

The real estate agents, just take a listing, and market and advertise the home at a price that would net the seller less than the amount owed. Then, when an offer is received the listing broker submits that offer to the bank. I was told by a well respected teacher at the AZ School of Real Estate , Bill Dowdy, that this is averaging about 78 days! yes, almost 3 months.

The more professional way to handle a proposed "short sale", (I say proposed, because, not all banks will approve a "short sale") is a step by step process that if approved, the bank will in effect, issue a "short sale"approval.

 

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Scott Skinner

Tempe, AZ

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Liberty One Lending

Office Phone: (866) 735-6261

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