| Re: Another scheme by CW
As far as the process, my short sale took 7 months to close. There's no set time frame so I, personally, would err on the side of a long process. No matter what your house is priced at now, the lender will order their own BPO (broker price opinion) to help determine the actual sales price. The value determined by zillow are usually inaccurate. It's "maybe" a good starting point for a "general" idea but like I said, a BPO will be ordered by the lender. There's a lot of other factors that go into this as well, much too complex to get into but just know that at the end of the day you'll be playing by the lenders rules to get the short sale approved.
As far as moving, I personally didn't move until my short sale closed or until I was near the end tale of the foreclosure process. Luckily my short sale closed. Why move out earlier than you have to and pay rent. It also helps to have an agent agressively marketing your property. The more views the greater potential for offers.
Hang in there. It's not a fun process but it will be a relief once it's over and it's better than a foreclosure if you can avoid it. |