Short sale flowchart

“Why does it take so long to close a short sale?”  This is a question I get asked daily.

Thanks to our friends at First Centennial Title I can now point to the flowchart below to provide some insight into the short sale process.  In my experience determining whether the Seller qualifies for a short sale and validating his or her hardship situation takes the bulk of the time – sometimes weeks to months.  Meanwhile the Buyers [try to] wait patiently.

To see the steps involved in successfully navigating and closing a short sale click on the short sale flowchart below to enlarge.

short sale flowchart

Related post: Foreclosure flowchart

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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One Response to Short sale flowchart

  1. Avatar Anon says:

    The problem is that listing agents let sellers list the property for sale before a short sale is approved. If they had to get approved before listing, then sellers wouldn’t be causing buyers to pull their hair out waiting.

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