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Permalink Reply by Bryant Tutas on August 3, 2012 at 12:24am

It's difficult to judge the sellers motivation. If they aren't making payments they are living for free and may be happy to prolong the short sale. Motivation needs to be judged prior to placing the property on the market.

Facing a short sale can also be a traumatic experience. When folks get in this situation they sometimes procrastinate on paperwork because they are in denial.

Or maybe they are having difficulties gathering the documents that have been requested.

There may be a clause in the short sale addendum of your purchase contract that places a time limit on how long the seller has to get documents submitted to their lender. This won't make them go any faster but it may give you an out of the contract if you don't want to wait.

Your situation is quite common but nonetheless very frustrating.

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Permalink Reply by kate on August 3, 2012 at 5:29am

We have nothing in our short sale addendum in regards to  the seller's performance. The house is vacant and I hate the fact that we are in temporary housing and have to wait while no one else cares. 

Anyone in a similar situation? Any tricks on how to get the seller move faster?

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Permalink Reply by kate on August 4, 2012 at 3:52am

Only one seller, one lien and the bank is Chase. 

Cannot get better than this, have no idea why he's dragging us

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Permalink Reply by Joseph Alfe on August 3, 2012 at 5:46am

also be aware the lender can periodically ask for new or updated docs, and hold up the process until they get them.

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Permalink Reply by TOP END Properties on August 12, 2012 at 5:39pm

Sellers are often the cause of weeks-and-weeks of hold-up time.  Some take 3-weeks to get the same documents another can do in 5 hrs.  They're simply not motivated enough to even help themselves.   Oh look, now the buyer is tired of waiting and all the financials are outdated .. 

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