The following is a quick reference guide and estimated timeline to process a traditional short sale in Utah, assuming all documents are submitted and completed in a timely manner. A typical short sale will take 5 to 16 weeks. However, timelines vary depending on the lender, investor, and the number of offers which are submitted.
| EVENT | ACTIVITIES | TIMELINE |
| Short Sale Packet Received and Reviewed | 1. Short Sale Advocate will review the short sale packet to make sure all documents are correct and complete. 2. Short Sale Advocate will review the file to see if the homeowner will qualify for any government programs (FHA, HAFA, etc). 3. Short Sale Advocate will submit the complete short sale packet (including offer) to lender. |
1 Day to 4 Weeks |
| Submitted Offer and Documents | 1. Lender will review third party documentation authorizing the real estate agent or attorney to act on behalf of the homeowner.2. Lender will validate offer and supporting documents. |
1 Day to 2 Weeks |
| Obtained Valuation and Internal Information | 1. Lender will order home valuation.2. Lender will review loan status and payoff information. |
1 to 3 Weeks |
| Analyzed Offer | 1. Lender will assign a short sale specialist.2. Lender will analyze collected information and negotiate offer to be presented to investors.3. Lender will submit offer to mortgage insurers and investors as needed. |
1 to 4 Weeks |
| Investor Decision Made | 1. Lender will receive approval, decline, or renegotiation stipulations from investor.2. Lender will notify agent and customer of final decision from investor or give status update if there is a delay. |
1 to 3 Weeks |
| Closing | Shot Sale Advocate will work with all parties to complete successful closing. |
2 to 4 Weeks |
Should you have any questions about the services we provide or would like to begin working with the Short Sale Advocate, please contact us by Phone at 866-297-3883 or email at info@shortsaleadvocate.cc.