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Sacramento Short Sale approved in 14 days!

By
Real Estate Agent with The Mode Real Estate Group DRE # 00935148

Sacramento short sales are getting quicker for approval!  We just had a Sacramento short sale approved from the day we sumitted the offer in only 14 days.  An approval letter is the final step of a short sale process in which the lender approves the sale of the property at a discounted payoff.                 Sacramento short sale approval

Here is the timeline:

We listed this Sacramento home for a distressed homeowner and within 10 days had 3 offers.  Our seller selected one to accept and we started the Short Sale negotiations with NationStar Mortgage right away.  We alway make sure that we have a complete short sale package to submit to the lender as this makes a huge difference in how long it takes to ge the short sale approved.  The lender in this case was Nationstar Mortgage and the package is uploaded through the Equator system. 

A BPO or Broker's Price Opinion was ordered right away by Nationstar Mortgage and it was back within a few days.  At that point the negotiator reviewed the package along with the BPO and we received an approval letter from Nationstar!  This process only took 14 days from the day we initiated the short sale in Equator!

We have 30 days to close escrow, so this entire process on this short sale will take less than 60 days!  Some lenders have really sped up their negotiating time so short sales are definitely getting quicker approvals!

For more information on Sacramento short sales, check out these blogs -

Who is eligible for an Elk Grove short sale?

How much will a short sale cost me?

Short Sales - how long does the process take?

Can I do a short sale if I am not behind on my payments?

Or if you are struggling with your options and whether or not you should consider a short sale on your Sacramento home, call us today at (916) 405-5737 for a free consultation. Remember we are here to help!

Posted by

Lori Mode

Lori Mode, Keller Williams Realty - Elk Grove

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Lori Mode and Bruce Durham, Elk Grove agents

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About the author: The above Real Estate information was provided by Lori Mode.  Lori can be reached via email at Lori@ModeREGroup.com or by phone at 916-405-5737. Lori has helped people move in and out of Elk Grove and surrounding Sacramento areas for the last 37 years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

Comments (3)

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

That must be some kind of record.  Usually takes weeks if not months for response.

Apr 22, 2012 12:50 AM
Brin Realty Associates Team At Bean Group
Bean Group | Brin Realty Associates - Amherst, NH
Amherst NH homes and Southern NH real estate

Congrats on the Sacramento CA short sale, that is a quick approval indeed.

Apr 22, 2012 01:23 AM
Lori Mode
The Mode Real Estate Group - Elk Grove, CA
Real Estate Made Simple

Edward and Celia - that is a record for us.  The previous shortest time for approval that we had received was 21 days!  They do seem to be getting quicker which is good news for all of us.

Apr 22, 2012 01:30 AM