Advice for Short Sale Home Buyers & Sellers DRE# 01357594

http://www.homes4salesandiego.com/
written and produced by http://jilladdison.com/

The term Short Sale is deceptive, because they actually take a really long time. But if youre willing to be patient and trust the process, we can almost always close the transaction for you.
Im going to give you a few critical pieces of information in this video to help you avoid pitfalls in the Short Sale process. Ill start with a few words of caution to Sellers.
First, not all lenders will accept a short sale, so this may not be an option for you. But I will be happy to speak with your lender to see if this is a possibility for you.
Second, just because youre upside down does not mean youll qualify. You must have a hardship, like loss of job, illness, divorce, death, or job transfer.
Third, I highly recommend that you speak with a lawyer and a CPA before starting this process. Heres one reason why. When you got your loan, your lender may have filled in misleading information about you that. For instance, if they stated that you were making more money than you were actually making, you could be charged with fraud.

Now, if you can clear all these hurdles, then heres the good news:
We can usually close the deal for you, and if you have a property under four hundred and fifty thousand dollars in good condition, you will get multiple offers.
The other good news is that if you can complete a short sale, the impact on your credit will be much less than a foreclosure.

For buyers, there are less hurdles to clear. But patience is still the name of the game. If you need to be in a house in 30 days, short sales are not for you. The process of buying a short sale takes six months on average, compared to 30-60 days for a traditional sale. Buyers have submitted up to 10 offers before one is accepted. So buyers have to be flexible and not get your heart set on any one house. Tell yourself that youll take the first offer thats approved by the lender.
Last year one third of all short sales didnt go through. Thats because this process is unfamiliar to many realtors and they werent prepared for the follow-through thats required on these transactions. Ive found that my persistent follow through with lenders enables me to close 99% of all my short sale transactions.
So if you have the patience, give me a call, and well get started on your Short Sale today.

Category:

Education

Tags:

• short
• sale
• Oceanside
• vista
• Carlsbad
• real
• estate
• California
• residential
• Real estate
• selling
• bedrooms
• diego