How long does a short sale typically take?

The duration of a short sale transaction varies, but on average, it can take anywhere from 3 to 6 months. Several factors influence the timeline, including the complexity of the case, the responsiveness of involved parties, and the lender's efficiency. The process begins with gathering required documents and listing the property for sale. Once an offer is received, it is submitted to the lender for approval, which can take several weeks. The lender will then conduct an appraisal or a broker price opinion to assess the property's value. Negotiations may follow, and once a final agreement is reached, the sale can proceed. However, delays can occur at any stage, so it is essential to work with an experienced short sale specialist to navigate the process effectively and expedite the transaction when possible.