One of the most common questions I get from a Fremont homebuyer is "How long does a short sale take?"  What they are really asking is how long it takes the bank to respond to an offer. Buyers seem to forget that even after the bank accepts the offer they still have to follow the normal closing process of title searches and so forth.

The answer to the question depends on the bank handling the short sale and if there is a second mortgage. Many times the second mortgage holder is neglected by inexperienced short sale agents and comes back to bite them in the end. I'll share how to deal with a second mortgage holder in a later blog.  

These averages are based on deals that have been approved in the past 90 days. The bank with the fastest approval is Ocwen with an average of 30.7 days. The longest bank to get an approval from is Litton at 94 days.

If you need more information on short sales or loan modification please contact me to find out how I can be of service.

Thank you for taking the time to read the information I have made available to you. This information is brought to you by your Fremont real estate expert Clyde Brown.  If you are considering buying or selling property, planning to relocate, looking for Fremont homes for sale, or looking for any other information about real estate in the Fremont real estate market, or the surrounding areas, please visit the most complete website dedicated to everything real estate related www.ClydeBrownHomes.com.

If you or someone you know are in need of a competent and experienced Bay Area Realtor, or have real estate or mortgage related questions, please feel free to contact me I will be more than glad to answer your questions. Call me at 800-839-0665 or email me at Clyde@ClydeBrownHomes.com. For all your East Bay cities needs including Fremont, Newark, Union City, Hayward, Oakland, Santa Clara, Milpitas, Dublin, Livermore, Pleasanton, and San Ramon. Clyde Brown Legacy Real Estate & Associates.