I was at the Industry Partners Conference yesterday (an excellent conference for Realtors, lenders and title folks) and in a round table discussion on short sales and REOs a title guy, Lee Lynch of Empire West Title, mentioned that only 25% to 30% of short sale escrows that are opened, actually end up closing, and short sale escrows can take anywhere from 90 days to 4 months.

It was interesting to find out that title companies use less expensive procedures for short sale escrows since so few close. Title companies only get paid when a transaction closes.