Most short sales take a few months from listing to closing, but Washington's foreclosure timeline adds urgency that homeowners in judicial foreclosure states don't face.
Washington is a non-judicial foreclosure state, which means a lender doesn't need to go through court to foreclose. Once a homeowner defaults, the law requires lenders to wait at least 190 days from the date of default before holding a foreclosure sale, and the formal notice of sale must go out 90 to 120 days before that sale date. That sounds like a lot of time, but a short sale has its own steps: listing the home, attracting a market-supported offer, assembling a hardship package for the lender, and waiting for lender approval. Each of those steps takes time the foreclosure clock doesn't pause for.
This is why timing matters more in Washington than in states with longer judicial foreclosure processes. A short sale that starts the day after a notice of default is far more likely to close before the trustee's sale than one that starts after the notice of sale has already been recorded.
If you've received any notice from your lender, the date on that letter matters. Bringing it to your first conversation and we will map your short sale timeline against Washington's foreclosure deadlines.
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