If you are considering doing a Philadelphia short sale, you might be wondering how long this process will take. I’ll be honest. There isn’t a definite answer to that question. However, i can tell you this. From the first time that we meet until your short sale is closed, it generally takes five to seven months. Here’s why.

First we have to put your home on the market. We will market your home just like it is a traditional sale. We are required by law to disclose that your home is a Philadelphia short sale. However, we will still be giving you full service with things like virtual tours, online photos, online marketing, and direct mail marketing. We do all of these things to get the highest and best price for your home. We are focused on getting the highest and best price that the market will allow. We treat your Philadelphia home like a traditional sale.

After we get an offer on your home we will submit a package to the bank which includes an offer and lots of financial information from you. How fast the short sale is closed is dependent upon how fast you can get the financial information to us. We get many of these documents upfront but several of these items expire. For example, the bank needs your two most recent pay stubs. So, if we start your short sale in January and close your Philadelphia short sale in May, we will have to update your pay stubs.

If you would like more information about Philadelphia short sales, please give us a call or contact us today.