A short sale is anything but short, when it comes to time frames. A short sale is basically when a seller is selling the property short of the payoff amount owed to the bank. That is why a short sale is always subject to lender approval, since the lender has to review the seller circumstances and see if selling he property for less than payoff amount is justified. This process usually takes weeks to months and seller is required to submit several documents and financial statements. If you are thinking about purchasing a short sale, let me help you navigate this extremely complex process and tell you what to look out for!
