The Bank’s Timeline
I have noticed a common incident occurring with these short sales and the bank’s short sale negotiators. I have noticed a lot of them are giving time lines to respond to them before they close out a file. I am working on a short sale in Phoenix , Arizona. It took me weeks to go through the normal short sale process. The bank received all my paperwork and I finally got a short sale negotiator. It took me multiple tries to get a hold of the short sale negotiator. When I finally talked to her…. she wanted a few specific things for her short sale file and if I didn’t get them to her within two days my short sale file would be closed out. Now this isn’t the end of the world but it definitely puts a wrench on things. It is ironic though that you can put so much time and effort into a short sale, only for the person who hasn’t responded to the last ten attempts at reaching them, puts a time line on your response. Short sales can be hectic, that’s for sure!
- Jeff Buettner
Real Estate Wiz Kid
Arizona Short Sale Realtor & Negotiator
I need to stop my Scottsdale foreclosure now!
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That is crazy. We had one bank drag one out 6 months before it got closed.
Maybe if they would do their job on time and answer the phone calls and emails, we wouldnt have to work as hard and as fast!
Hurry up and wait… then hurry up and pray. That’s the name of the game. It took Saxon almost 8 months to finally give us an approval on one file. Some of these banks are painfully inefficient when it comes to short sales.
Michelle,
Saxon might be one of the worst with their wait times. They are ridiculous!
Jeff