Short Sales Really Don't Need to Take 60-90 Days
I recently became one of the few CDPE's who are trained to handle short sales from the listing side. During my training CDPE agents said that they were able to get approval anywhere from 2-20 days which I wasn't really sure if I wanted to truly believe. I have been on the buyer side of these transactions many times and I have never had an approval anywhere in that short period of time. Most agents just wing it and they do not submit paperwork properly which is the major holdup and causes these transactions to have a 60-90 day approval period. I just received the attached document from a loan officer at Wells Fargo and it looks like if done properly the process is oly 25 days. I realize that different banks function differently and loans can have two or three investors involved plus PMI companies which lengthens the process, but it is nice to see that Wells Fargo is attempting to implement a faster process.
If you know of anyone whe is in financial crisis and needs to short sale their home please have them call me. I will handle the case in a confidential and respectful manor.
Kim Darwaza ~ RE/MAX Allegiance ~ 703-856-2254 ~ kim@kimdarwaza.com