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Waiting Period to Buy After Foreclosure. Buying After a Foreclosure. The waiting period is 5 years up to 7 years. Buying After a Foreclosure With Extenuating Circumstances. The waiting period is 3 years up to 7 years. Buying After After a Deed-in-Lieu of Foreclosure. The waiting period is 4 years up to 7 years. Buying After a Deed-in-Lieu of Foreclosure With Extenuating Circumstances. The waiting period is 2 years up to 7 years. Buying After a Short Sale. The waiting period basically is 2 to 5 years.
It will depend on the closing date as set forth in the contract. For privately owned sales-assume a normal 30-45 days...It could be less if it's a cash deal. For foreclosures-usually 30 days. For short sales-it should be 30-45 days after the 3rd party lender approves the contract.1 vote â¢ Thank â¢ Flag â¢ Link â¢ Mon Jan 3, 2011. hope the sale you're referring to isn't one that type of sale. The banks aren't playing ball very well. I've had short sales get approved within two months, and others that have taken six months. I wish there were a magic answer for that question. If there is good news to be had, short sales are getting approved.