Orange County Short Sales : Can A Short Sale Save My Credit & Do I Qualify My last article I explained why a bank would want to do a short sale and would a short sale save your home. In today's article I will explain whether or not a short sale can save your credit, as well as what it takes to q
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11/30/2008
Orange County Real Estate: Who owns the homes after a Short Sale & What happens to the property taxes? A short sale is treated just like a conventional/traditional sale. The property is first placed on market for the public to see. Then the search begins for a qualified buyer and once that buyer
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11/30/2008
Can I Short Sale My Own Home? Short selling your own home is a question that comes up quite often. The answer to this would be NO, this would be illegal. Neither the homeowner themselves or a friend or family member can short sale the property. A short sale must be an Arms Length Transaction, wh
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11/30/2008
What Areas Can We Short Sale Properties In? When it comes to short sales and what areas or cities we cover, it is the same as our traditional sales. We cover the entire Southern California area. We have agents that cover Los Angeles County, Riverside County, San Bernardino County, and Orange Cou
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11/30/2008
My house is already listed for sale on the MLS but isn't selling; can I do a short sale? Yes, a short sale in this scenario is relatively common. Some lenders even require that a house be listed for sale before approving a short sale in order to show that a discount is necessary. A typical sho
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11/30/2008
My house is really nice, why is the short sale offer so low? Sellers often have an emotional attachment to their home and often feel a short sale offer is too low. It is important to remember a few things. First, the seller in a short sale can never receive any money in the transaction, theref
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11/30/2008
*Should I accept a short sale offer from an investor? In a short sale, obviously this is up to each individual, but we believe the only real reason to reject an offer is because you know that you will have a tax problem. Again, most sellers who have a short sale qualify as insolvent with the IRS
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11/30/2008
How much does it cost me for you to do a short sale on my house? In a short sale we charge $595 documentation fee upfront for hard costs that we incur. The reasoning behind the fee is simple. We want you, the seller, to be sure of your financial hardship. We don't want to take on a short sale li
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11/30/2008
Are short sales guaranteed to work? No. Even though short sales are increasing they are still fairly complex, as I have stated. All the criteria MUST be met for a bank to even consider a short sale. It is not easy to convince a bank that the market value of the home is lower than what they are o
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11/30/2008
How long does a short sale take, I need to get out now! First it comes down to how prepared you and your broker are in this situation. If your broker or short sale specialist is experience then you will have the quicker turn around. Also it depends on what banks you have your loans with. Meani
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11/30/2008
