The Four R's of Short Sales - The Four R's of Short Sales - San Diego Condos and San Diego Lofts
The Transparent Approach to a Real Estate Related Crisis
What are The Four R's of Short Sales and how can they help you in San Diego Real Estate? Sign up today to receive the manual on Short Sales and the four R's you need to know about! Information on how Home owners can RECOVER, how lenders can RECOUP, home buyers can REAP and professionals can RENDER!
The definition of a Short Sale in real estate is a sale in which the proceeds from the sale fall short of the balance owned on the loan secured by the property sold. This brochure can teach you how homeowners are recovering and regaining control. Learn what homeowners need to ask and learn regarding short sales and other options!
Homeowners everywhere are being challenged with their inability to pay their mortgage or stay in their home - especially when the value of their property becomes less than the loan amount due.
Learn what your options are as a San Diego Home Owner when your property is in or heading toward default.
-A short sale or a repayment plan?
-A short sale or a forbearance plan?
-A short sale or a loan modification?
FIND OUT MORE!
No one purchases real estate with the intention to "recover," and lenders do not extend mortgages with the intention to "recoup loss," however many of the finest and most respected lending institutions are dealing with situations just like this. Learn how lenders RECOUP to recover all or part of a loss.
Today's buyers deserve to REAP rewards! Find out today why a potential short sale property might be of interest to you!
Whether you are a home owner, lender, or home buyer - The Four R's of Short Sales will help you reach your goal!
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The Four R's Of Short Sales!
Typically short sales benefit both the Downtown San Diego Home Buyer and the current homeowner. The first benefits by getting a bargain and the second benefits by avoiding foreclosure. And although the name implies it, these sales are anything but short.
 A short sale is when homes, including Downtown San Diego Condos, sell for less than the mortgages owed on them. During difficult housing markets, short sales and foreclosures usually increase.
A Downtown San Diego Seller usually decides to short sale their home when they are facing foreclosure. This option does less damage to their credit than a foreclosure.
The longest and most complicated process of the short sale is getting the bank's approval to sell the home for less than the mortgage amount. This makes the short sale the longest transaction to complete, even in the Downtown San Diego Real Estate market.
In general a foreclose takes a total of 5 weeks, a traditional home sale takes about 7 weeks and a short sale is usually longer than 10 weeks.
Another problem in completing the short sale is that banks are so busy, it usually takes them anywhere between 45 and 60 days to even acknowledge the paperwork and assign a negotiator to it. They then determine whether the value of the home and the sales price make sense.
If the bank considers the price needs to be higher, the buyer might agree to pay more or the seller might have to put in a few thousand dollars.
Contact a Downtown San Diego Realtor if you are considering a short sale for your current home.
For further information on any Downtown San Diego Condos contact:
Gregg Neuman
Gregg@sellSanDiego.com
1-800-221-2210
www.SellSanDiego.com
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