Southern California Short Sale
Sell A Short Sale
Are you one of the many people in Southern California in jeopardy of loosing their home? An option for you may be to Sell your Southern California Home
as a Short Sale.
We recommend you consult a Real Estate Attorney and a CPA.
Sell a Short Sale
What is a Short Sale?
A Short Sale is when the lender accepts less than the loan is, as a settlement
on the loan. FYI, approximately 12 - 20% are successful of getting out from under their loans. The numbers are gong up. You still haven't lost if you
don't sell. Patience is the key here. Your Real Estate Agent will take most
of the frustration on a Short Sale.
A Short Sale is a great way to SAVE YOUR CREDIT for the most part.
Damage is minimal considering your lender took back your house.
In order to sell a short sale, ALL OWNERS must sign all documentation.
There must be a hardship reason why you cannot pay that is legitimate.
You will have to "QUALIFY" for a short sale. Remember, all the info you
needed to qualify to get the house. You will need that and possibly a bit more. For those of you who qualified with no documentation, this will be pretty
much the opposite. You will need to document income expense etc.
We will need to list your home on the market to get your short sale sold.
When we have an offer, for your short sale, and you agree to it, we will
have to get the Lenders(s) and Lien holder(s) to agree as well.
Every Short Sale is different.
On average, 12-20% of all short sales listed, in California, are approved,
the numbers are going up.
There are many short sale myths. It would be wise to know the truth
about short sales.
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CALIFORNIA DEPARTMENT OF REAL ESTATE LICENSE 01312992