Short Sale Roseville-Expectations During Escrow
Short sales in Roseville are not like traditional sales. They are truly a different kind of real estate sale which includes the escrow period.
In my interview with Laura Peachey of Stewart Title in Roseville, she explains the expectations of both buyers and sellers during the short sale escrow period. Laura will also discuss the average time a short sale escrow in Rosevilleis currently taking. Finally, she will clarify when the buyer should deposit their earnest money deposit.
During short sales in Roseville, the buyers biggest concern is the unknown waiting period. While sellers and their Roseville short sale agent are busy negotiating with the bank, buyers are waiting for an approval before starting their inspections and ordering their appraisal.
While short sales in Roseville used to take 6-9 months and sometimes up to 1 year, they are now closing in an average of 3-4 months. The short sale process has improved greatly and it’s important that buyers and sellers choose a Roseville short sale expert that can deliver a successful short sale.
There is some confusion regarding the buyer’s deposit during a Roseville short sale. In traditional sales, the buyer will send their deposit to escrow within 3 days of an accepted offer. During short sales, many buyers will wait until the bank approves the short sale before delivering their deposit. This is so the deposit isn’t tied up for months.
If the listing agent requires the buyer to send in their deposit before the approval, be sure the contract allows the deposit to be released if the buyer changes their mind before the approval is obtained.
Sellers, see if you qualify for a short sale in Roseville.
Buyers, start your search for a short sale in Roseville.
Thank you Laura Peachy from Stewart Title for clarifying escrow during short sales in Roseville.
Short Sale Roseville-Expectations During Escrow
Posted by Allan Sanchez Roseville Short Sale Agent www.AllansHomes.com
Leave a Reply