How long does it take to complete a short sale once a buyer has been found?

It is difficult to say. Each mortgage lender (bank) have their own procedures that must be followed in the approval process of a short sale..

Some might accept an offer immediately, while it might be the procedure of another mortgage lender to wait for 3 offers so as to compare the offers and accept the best of the 3.

Some mortgage lenders might require the signature of three different managers before a short sale is approved.

Even with the same mortgage lender on short sale might have no resemblance to another.

It would be to your advantage if you have a real estate agent that previously worked with this particular bank on short sales. Your real estate agent would have first hand knowledge of time frames and some what of their procedures.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Short sales around here were taking 6-12 months at one point. Banks were dragging their feet. Our housing market has picked up a bit and banks have gotten a bit wiser, so 3-6 months is more normal right now.

The bank will usually wait months to see if another buyer will pay more, figure 2-8 months

It can take months.