How long does a short sale take?
| Stage | Typical timing |
|---|---|
| Listing signed to first lender response | About 10 days on average |
| Listing to closing | Typically 60 to 90 days |
| Homeowners with a sale date | Most reach us about two weeks before it, so a postponement comes first |
What does a short sale cost the homeowner?
In most short sales the homeowner pays nothing out of pocket for the agent, because the commission comes out of the sale proceeds and the lender approves it.
How does the lender decide the price?
The lender bases the approved price on the home's market value, not on what is owed. With prices falling, approvals are harder, and some lenders now order their own appraisal before they agree.
What slows approvals down?
- Missing documents or a late hardship letter
- A second mortgage or HELOC, which shows up in about 35% of our files
- Delinquent HOA dues that have to be negotiated
- The investor that owns the loan, which often has the final say
- Who you reach at the servicer. SPS, Wells Fargo, Chase and Bank of America are the servicers we see most, and how smoothly a file moves varies
Last updated October 15, 2026 by Constance Boyce, REALTOR®, SFR®. General information, not legal or tax advice. We do not solicit properties listed with another agent.