Minnesota Short Sale Expert

When a decision is made by a homeowner to proceed with a short sale one of the qhestions that is always asked is “when do I need to move out”?. The answer is quite simple actually. 

The short sale process is very much the same as a regular sale of any other property with the exception that it will take longer to get a decision and a closing date set. Once the lender(s) approve the short sale they typically will require that the transaction be closed within 30 days. This gives the homeowner the time to find alternative housing. Some times though the process may move quickly and the closing may get done within a couple weeks after lender approval. Most homeowners facing this situation will be renting somewhere after this process is completed so I tell them to start looking during the process and if they find a place that fits what they are looking for at that point they need to decide whether to move out early or not. 

The bank does not own the short sale property the homeowner does. You do not need to move out anytime before the actual closing date. Stay in the home and start searching for a new place during the time when the short sale is in prtocess.