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How long does a short sale take in Charlotte NC?
Are you thinking of doing a short sale? Although it may not be a perfect solution to your financial setback, it might be the best option at the given time.
Perhaps you are also wondering how long the short sale process takes in Charlotte NC. The answer is all short sales are different. An exact timeline is hard to determine. Sometimes, this kind of transaction can take up to three months longer than a regular sale. In a short sale, banks are losing money. It’s understandable why they are not too keen on it. So if you are considering a short sale as an option, you should be prepared for the process to be lengthy.
Here are important details you have to know regarding the short sale timeline:
Starting the Short Sale Process
The timeframe for selling your home as a short sale varies by state and is determined by many factors. These include the actions of the homeowner and that of the bank. It also depends on the internal process of the bank and the difference between the mortgage value and the value of the property.
To start the short sale process, the homeowner should submit a package as required by the bank. The following ... more
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