Those with short sales experience...or knowledge

Would you say an appraisal by the bank is towards the end of the process of beginning. I would assume its one of the first steps the bank would take to see if our offer is anywhere close to the value of the house....

Re: Those with short sales experience...or knowledge

You are correct it is the beginning of the process to see if the offer comes close to their appraisal.

Re: Those with short sales experience...or knowledge

we are going through a short sale.. honestly the most emotional roller coaster i have ever been on!!! 8 months so far! but it will be worth it!

to answer your questions, the previous poster is correct.

good luck!

Re: Those with short sales experience...or knowledge

you probably have a long time to go

we submitted an offer in January - within a week the bank did an appraisal......it took until mid April to get responses from the banks (there were two mortgages).....

right now everything is held up b/c the banks are not agreeing - so id try and stay away from short sales with two mortgages

at this point we might walk away - not sure what to do - we saw another house (for more $$) that isn't a short sale, that we love, but we don't think they'll take a realistic offer....so we are kind of waiting....but once we saw this other house, the house we've loved for so long (the short sale) doesn't seem so great anymore so i dont know what to do...

i would just be prepared to wait at least 3 months, its an emotional rollercoaster!