Replies to This Discussion

Permalink Reply by Steve Early on March 14, 2011 at 10:13am

Hi Lindsey:

Timetable: They won't give you one (Ocwen or anybody else). The average short sale probably takes 4-9 months after an offer is submitted.The most we can usually get from them is that the next step will take 'n' days or 'n' weeks.

Speeding it up: No, there is nothing you or anyone else can really do to speed up the process other than; if you are asked to supply paperwork of some kind, submit it as soon as possible.

Verifying the seller is doing what they should: Not really because you can't talk to the servicer without the seller's permission, and knowing key information about them including their loan number and last 4 digits of their SSN.

 

Permalink Reply by Mary Wilcox on March 17, 2011 at 2:19am

My 2 cents is that if you are a listing agent for a short sale you are practically working for free. so they most likely believe they are doing everything they csn.

But, to be frank, there are a lot of Agents that don't know what they're doing. your best bet is if this Agent is a CDPE.  They at least have the tools to do the right thing.

Now, having said that, in defense of list agents.  These banks throw crap at any given moment & sometimes pull the rug right out from under a great deal that is moving along just fine.

 

Seriously, Miss or Mr. Buyer...it's a crapshoot. (with a lot of banks) I've closed all mine within 90 days of finding a buyer.  But, I've heard horror stories from my colleagues of closing in several more months and not at all.

So sorry but that is the game that it is.  To be honest, I think someone needs to make the banks play by some rules.

 

Just my insight.

Mary Wilcox

Realtor

Kansas City Metro

816.616.7165