How Long Does a Short Sale Take?
There is no standard timeline for a short sale. It usually takes longer than a regular sale because your lender has to review the offer and your finances before it approves the sale, and every lender works at its own pace.
What happens, in order
The sequence is fairly consistent. The time each stage takes is not.
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Paperwork and listing
You put the lender's package together and the home goes on the market. Missing documents are the most common reason this stage stalls.
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Finding a buyer
The home is shown and offers come in. This stage depends on the price, condition, and the local market, not on the lender.
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Lender review
The servicer checks the offer against a valuation, reviews your hardship, and may ask for more documents. This is usually the longest stage.
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Approval and closing
After written approval, the buyer's lender and the title company finish their work and the sale closes.
What tends to slow a short sale down
Incomplete paperwork
A missing bank statement or an unsigned form can send the file to the back of the line.
More than one lender
A second mortgage, a home equity line, or a lien means another party has to approve the sale.
Buyer financing problems
If the buyer's loan falls through, the process can start over with a new buyer.
Lender backlogs
Servicers handle many files at once, and review queues move at their own speed.
Timeline questions
How long does a short sale take in Suffolk County?
There is no standard timeline. A short sale usually takes longer than a regular sale because the lender has to review the offer and your financial package before approving it.
What makes a short sale take longer?
Incomplete paperwork, a second mortgage or lien, a buyer's financing problem, a title issue, or a backlog at the lender can each add time. Keeping the package complete and responding quickly helps.
Can I speed up a short sale?
You can help by sending every document the lender asks for the first time, answering questions quickly, and keeping your agent informed. No one can promise a specific date, because the lender controls the review.
What should I do while the short sale is being reviewed?
Keep the home insured and maintained, open and respond to lender mail, and do not ignore a foreclosure notice. If a court case is filed, contact an attorney right away.
This page is general information, not legal, tax, or financial advice. Deadlines in a foreclosure case are set by the court — ask a licensed New York attorney about yours.
Wondering how long yours might take?
Tell me which stage you are in and what the lender has asked for. I will explain what usually happens next.