Wellington short sales- Some take 3 days and others take over a year.
Our team has been doing short sales in Wellington- South Florida- Texas- California since 1981. The one thing that has not changed is the fact that every single short sale is different. There are no cookie cutter methods and there are no certainties except for the fact that each short sale is different.
We got an approval from Bank Of America on one of our short sale listings within 3 days and closed within the next few weeks. We get a good amount of less than 30 day short sale approvals. But there are also short sales we have listed and sold that have taken over a year.
You can not judge the expertise of a Wellington short sale agent by the length of time that a short sale takes because there are just too many elements that are out of the control of the Wellington short sale listing agent.
So much depends on the lender’s servicer and how many loans are on the property, how close to foreclosure a seller is, if the seller is paying their mortgage payments or not, if the seller is paying their HOA fees or not, if there are attorneys involved or not.
Then there is the factor of the buyers. When a short sale takes too long with the sellers’ lenders’ servicers, the buyers don’t often stay in the short sale transaction. If we are not the ones who brought the buyer to the table, that is yet another factor that we need to pay attention to because many Wellington short sale agents are not involved with enough short sales on the listing side to understand and educate their buyer on the process and what to expect.
While you don’t know how long each Wellington short sale is going to take you can make sure that whoever you have helping you with the transaction and the negotiations with the banks, whether that is your attorney or your real estate agent, has a very high closing ratio of successful short sale transactions closed for the seller.
Katerina Gasset is the author of http://www.wellingtonfloridashortsales.com. Katerina Gasset is the homeschool mother of 9 children and wife to Nestor Gasset. Katerina Gasset is also a writer, author, speaker, Realtor®, SEO coach, blogging coach and business entrepreneur and consultant.