When a buyer makes an offer on an Elk Grove Short Sale they should be prepared to wait several weeks and in some cases several months for the banks involved to approve the sale. 

Once the offer is signed by the current owners, it's forwarded along with the seller's financial information to the bank(s) who have liens on the subject property. Then the waiting game starts!

You see... Even though the sellers have signed a contract with the buyers agreeing to a price... The seller's banks, who have liens on the property, have to agree to the sale. The bank(s) have to agree to release the liens for less than what is owed so the buyer can buy the house.

Short sale approvals can take a matter of weeks to get approval, but some take many months. Elk Grove Short Sale Agents find that if they are dealing with a longer approval period, they often lose the buyer before the short sale approval comes in. This means that the process starts over with looking for a new buyer.

I admit, the listing agent for an Elk Grove short sale, will probably have more hours into the transaction than the buyer's agent... BUT it really is a team effort!

Keeping a short sale buyer engaged as weeks go by without a short sale offer is no easy task! Buyers are impatient and continue to look at what comes on the market to make sure they got the best deal. Many times after many weeks of waiting, they can't take it anymore and decide they want to keep looking.

It's up to the buyer's agent to keep that client engaged! It's up to the listing agent to get the short sale approved! It's up to the seller to do what is requested by them from their agent or the bank involved. It's up to the buyer to perform and stay engaged until deal finally closes!

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Are you a home owner who is struggling to make their mortgage payment? Find out if you qualify for a Elk Grove Short Sale >>