Short Sale Help
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Do you want to sell but you 'think' you can't because you owe more on your home than what it's worth? Welcome to SanDiegoisonSale.com. Our dedicated team at Weichert Elite works with you and the bank to negotiate a sale price to sell your home before foreclosure becomes a reality. Weichert Elite in San Diego specializes in short sales. Banks will not just deal with 'anyone'. At Weichert Elite we have a department dedicated to working with the banks to negotiate the sale of your home. Save your credit and eliminate debt through a real estate short sale.
We have a department dedicated to negotiating with banks. In fact there are certain banks that prefer to work with Weichert Elite. Susana Marquez is the leading Short Sale negotiator for Weichert Realtors Elite in San Diego. She is an expert at dealing with and negotiating with most of the banks and lenders currently holding real estate mortgages. Her experience and personality allow her to get through most of the red tape that inexperienced Realtors go through during the short sale process. Work with the Chris Bedgood team and get RESULTS!
What the Chris Bedgood Team will work hard on your behalf for and offer You?
1. Provide the EXPERIENCE needed with Short Sales and get your questions answered.
2. Negotiate with the lender to come to a price that will make you and the market happy.
3. Possibly lessen the hit on your credit
4. Possibly Avoid Foreclosure
5. No commissions will be paid by You.
Short Sale FAQ's
1.What is a short sale?
A short sale is a transaction in which the lender, or lenders, agree to accept a pay off less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt. A real estate tax proffessional or attorney can answer those questions and we can recommend great attorneys to you.
2. What if there are two mortgages on my property?
In order for the short sale to go through both lenders must approve of accepting a lower amount for the loan. If the home goes into foreclosure the second lender will normally get nothing, so they are very motivated to work with the lender of the first loan. These loans can be done, but they take knowledge and expertise. Weichert Elite and Chris Bedgood's team will bring that knowledge and expertise to help move the short sale process forward and get results in a timely manner.
3. Why should I choose a Realtor that specializes in short sales as opposed to a investor who wants to purchase my property and negotiate the short sale?
Watch out for unethical investors who will try to convince an owner facing foreclosure to sign a quit-claim deed for the property, and then lease the property. In such cases, the former owners will still be liable for the mortgage payments, even though they no longer own the house. Also, most so-called 'investors' don't know what they are doing and are unlicensed to do real estate, so the end result could be exactly the opposite you were hoping for, which will affect your time and family.
4. What do I need to do in order to prepare for a short sale?
The sellers' submission package should include W-2 forms from employers (or a letter explaining the seller is unemployed), bank statements, two years of tax returns, and other financial documents outlining income and debt obligations. The bank will also need comps (comparable properties) or a broker's price opinion showing your estimate of value.
In addition, the sellers should submit a "hardship letter," explaining the circumstances that make it impossible for them to pay the full amount of the loan. The seller needs to be able to show true financial hardship.
5. Will any money come out of my pocket for a Short Sale as the seller?
Normally, and in 'most' occasions, the lender will pay all fee's, with some exceptions. It is important to have an experienced short sale team act as your negotiator to ensure this happens. The submission package to the lender just needs to be complete, see above.
NOTE:
SanDiegoIsOnSale.com, Chris Bedgood, and his associates are NOT attorney's or tax professional's. We are real estate professionals and can refer you to an attorney or tax professional if needed and we highly recommend Buyer's AND Sellers consult attorney's and tax professionals when buying or selling real estate.
