Short Sale Approval Process
In
order to close on the purchase agreement where the purchase price is not enough to pay all that is owed on the property, the
seller must obtain the approval of each lender who is not being paid in full. The seller must request a "short
sale package" from the lender, complete it and return it to the lender with all of the requested information and documentation.
The short sale process takes any where from 30 to 120 days.
