So I just put an offer on a house being sold as a short-sale. I offered the full amount that had been asked, in cash, about 150K. The seller accepted and the contract has been signed. How long do you think it will take to close the sale? I have no contingencies and I know the house is 100 percent since I chose to speak to the owners in person after some confusion between my agent and the bank's. Furthermore, I think that the price that had been asked for had been approved by the bank. I say this because the house had been under contract before I offered but the buyer backed out because of finances. Also, the house is solely mortgaged by Wells Fargo and I've heard some bad things about their short-sale process. Plus, when I spoke to the owners they said the bank had settled on the asking price listed. I'm guessing they won't be asking for more after they review the contract. All in all, at this point it is the waiting game. Any ideas on how long it will take? The owners make it seems like it will be soon.
Read more: How long will it take to close a short sale?
