Should I Short Sale My Home?

What is a Short Sale?

What is a Short Sale?

• Contract between the buyer and seller with at least one contingency— the deal is approved by the seller’s lender (s).

•  Seller’s lender is approving an agreement to settle for less than the full amount owed.

This is the last option before Foreclosure.

What Qualifies a Borrower for a Short Sale and is it right for me?

• Determined by seller’s lender
• Must have a Proven Hardship
• Seller is in a Hardship and home is unaffordable
• Upside Down on Loan-to-Value
• Loan Modification was denied

Every situation is unique and Every Lender is different

Below are examples of a hardship:

• Family illness or injury
• Job relocation when the property is equity deficient
• Job loss or significant income loss
• Divorce or split of domestic partners
• Adjustment in mortgage payment or unforeseen increase in living expenses
• Medical Bills
• Inability to work due to health reasons
• Death of Spouse
• Reduced Income or Unemployment
• Business Failure

We also strongly encourage you to consult with your tax advisor.

Can any Realtor list and sell my home as a short sale?

A short sale is a long and complicated process. You must trust in a Realtor that understands the short sale process and how to get your home accepted and sold.

For this reason, we have established a partnership with a professional short sale service that will negotiate on your behalf with your lender.

As Realtors, our role is to listing and market your home, qualify buyers, as well as the many other responsibilities required to sell your home.  This is our expertise.  Once an offer is received, the short sale service will negotiate with your lender for approval of the short sale. Throughout the process, we will remain your primary contact and keep you updated along the way.

What are the Benefits of a Short Sale

• The mortgage lender accepts a discounted payoff. Your home gets sold and the mortgage is fully paid off.
• You have no out-of-pocket costs as the mortgage holder pays virtually all sales costs including title and escrow, commission, and approved property repairs.
• Your credit record is protected from a foreclosure.

Every Short Sale is a unique situation.

For a FREE consultation, call us directly at

Direct 916-988-8881

Rene@MoralesRealtor.com

Tanya@MoralesRealtor.com