Short Sale Tip #5 – What every buyer needs to know about buying a short sale home in Orange County
Hurry up and wait, but don’t get caught off guard. Yes, it can take weeks and even months to hear back from the bank once you submit an offer to buy a Short Sale listing in Orange County. Even though the timing of a reponse is unpredicable, if you DO receive an acceptance, you will be expected to close escrow in 20 ro 30 days beginning from the date of the bank’s acceptance. With this in mind, make sure that your pre-approval from your lender is still valid, you know what loan interest rates and programs are doing, that you can still get the loan you had planned on, and that your lender can make a 20 day escrow happen. Also make sure that your loan lock has a little bit of wiggle room in case there are any delays. Now, go out there and find a great deal on a Short Sale home in South Orange County. There are hundreds of possibilities.
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