The simplest explanation is that your home is worth less than what you owe on it, and you need to sell. If all lien holders agree to accept less than what is owed to them you might be able to perform a short sale.
How is a short sale different from a traditional sale?
In a traditional sale the owners pay for all aspects related to the sale of the property. In a short sale the primary lien holder pays for our services out of their proceeds. Performing a short sale is a process that has no financial cost to the current owner for our services, but all owners short selling will have some tax implications.
Interested in short selling, or would you like more information?
Contact Stuart at (626) 274-6590 today to find out more!
“Can I Short Sale?”
There are many factors that determine your eligibility.What kind of financing was used to purchase the home? Why do you need to short sale? Is it an owner occupied property?
We offer a free consultation in your home, or our office, to discuss your unique situation. Once we have the information above we can contact your lien holder(s) to discuss your eligibility with your written permission.
It is at this stage that we also begin to negotiate relocation monies for you directly from your primary lien holder. We know you will need a place to live after this sale is completed, so we do our best to make your transition as smooth as possible.
I will send more in a separate email. Please be on the lookout for more.