Fullertonshortsaleagents

What is a Short Sale?

Fullerton short sale agents - In many real estate markets, home values have plummeted drastically. Homeowners often refer to their homes as being underwater. They may have lost much or all of their equity, but the true definition of a short sale is based on the net proceeds when a home is sold.

If the loan balance is greater than the net proceeds, your sale is "short" the amount owed to the lender. A lender must approve this type of transaction in advance. This is known as a short sale.

The name is often the only thing short about the transaction. Complications quickly set in because the party that controls the sale is the loan servicer. The investor is often another entity and may have more interest in completion of the sale than the servicer does. The servicer is interested in their books and how their financials look at any given time. Quarterly reports, annual statements can all impact how a lender treats their short sale approved sellers. If any trend or pressure changes, the lender is free to modify the terms of approval on any buyer at any point in the process.

Experienced Fullerton short sale agents are ready for the adverse negotiation environments often created by loan servicers. They are ready to deal with every party in a transaction that provides the best possibility of success.

Fullerton short sale agents - No one can guarantee the outcome of a Fullerton short sale and the possibility of a short sale turning into a foreclosure is a very real one. Capable Fullerton short sale agents know how to reduce this possibility and bring success to Fullerton distressed property sales.