Buyers should expect a longer timeline, typically three to ten weeks for lender approval after a complete offer package is submitted, along with as-is condition and additional paperwork compared to a standard sale. The lender, not the seller, ultimately approves price and terms.

Buyers who’ve only purchased homes through standard sales often go into a short sale with the wrong expectations, and that mismatch, more than anything about the transaction itself, is what creates frustration. Knowing what’s actually different going in changes the experience considerably.

The timeline is a real constraint, not a negotiating point

Once an offer is accepted by the seller, it still has to be submitted to the lender for review, and that review, generally three to ten weeks depending on the file’s complexity, runs on the lender’s schedule. Calling repeatedly to push for a faster answer doesn’t speed up the process and occasionally slows it down by adding noise to an already busy file.

Market conditions affect competition, not lender speed

With inventory across much of the Treasure Coast having grown and days-on-market having lengthened compared to a few years ago, buyers generally have more breathing room to consider a short sale without feeling rushed by competing offers. That said, the broader market shifting toward more balanced or buyer-favorable conditions has no effect on the lender’s own internal review timeline, which moves at the same pace regardless of how hot or cool the surrounding market is.

As-is condition and extra paperwork are standard, not warning signs

Short sales sell as-is, with no repair negotiation regardless of what an inspection finds, and require signed affidavits confirming there’s no undisclosed relationship between buyer and seller and no side agreements outside the contract. Both of these are routine parts of nearly every short sale closing in Florida, not signs that something unusual is happening with a particular transaction.

•       Expect three to ten weeks of lender review after offer submission, separate from the rest of the closing timeline
•       Property sells as-is, with no repair credits available regardless of inspection findings
•       Standard short sale affidavits are routine paperwork, not a red flag

Considering a short sale purchase, or have questions before you write an offer? Call or text Michele Lee Scherger at 561-309-2950 for guidance specific to the listing.