How long is it taking to negotiate a Short Sale in Kansas City?

How long is it taking to negotiate a Short Sale in Kansas City?


Two weeks ago I got an offer on one of our short sales. I got all of the proper docs signed including the short sale addendum. I even had a detailed discussion with the buyers agent regarding the length of time to negotiate a short sale. According to the Equator System, the communication source I use with the lender, the average short sale will take 87 days.


This information was conveyed to the buyers agent and to the buyers.


Two weeks later I'm getting hourly phone calls from the buyer's agent that the buyers will cancel their contract if they don't receive an answer within 48 hours.


I told the buyer's agent "Oh well, I guess I will need to contact the backup offer." 


Experience tells me that escalating a short sale 2 weeks into the process will not hurry the process faster. The facts are this buyer is not patient and maybe is not a candidate for buying a short sale.


Short sales in Kansas City will take on average 87 days. Some will take longer if they have a 2nd mortgage and PMI insurance and some like a preapproved FHA short sale will take a much shorter time period like 40 days. 


Whether you are selling or buying a home via a short sale, the two rules are get the proper docs completed ASAP and respond to the lenders request promptly. After doing this, be Patient.


Have a question about a short sale in Kansas City, contact the Kansas City Real Estate Network at (913) 712-9313.


RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.

Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill
Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview,

Raytown, Waldo and the surrounding Kansas City communities.