A clear process for a transaction with moving parts.

There is no universal approval clock. These stages show what typically needs to happen and what can slow the file down.

Review value, debt, hardship, goals, occupancy, notices and deadlines. Identify questions for the servicer and professional advisors.

Prepare the property for market, document condition, analyze comparable sales and disclose that lender approval is required.

Evaluate buyer strength and terms, execute the contract and assemble the homeowner and transaction documents.

Confirm receipt, obtain a file or case number, respond to missing-item requests and update expiring documents.

The lender may order a BPO or appraisal, review net proceeds and respond with conditions, changes or a decision.

Examine closing deadline, approved proceeds, contributions, commissions, lien terms and any language concerning the unpaid balance.

Satisfy final conditions, close on time and preserve the approval letter, settlement statement and related correspondence.

What commonly causes delays?

Unsigned forms, incomplete statements or inconsistent information.

Junior lenders, judgments or HOA claims that need separate resolution.

Financing, inspection, appraisal or patience problems.

Lender valuation that does not align with the offer or property condition.