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Selling your Property in a Short Sale in Escondido and Beyond
If you are a homeowner in Escondido, San Marcos or beyond who needs to sell, and if you owe more to the bank(s) than your property is worth, than you may need to participate in a short sale. In a short sale transaction, your real estate agent or a designated negotiator will negotiate with the bank(s) to forgive the difference between what you owe and the buyer's purchase price.
Homeowners who are "Upside down" commonly ask, "How much does this cost?"
Surprisingly, the answer is "Absolutely nothing."
Homeowners become very surprised and dubious when they hear this response, but the explanation for this is very simple.
In a traditional real estate transaction, the seller pays the Realtor® a commission to sell the property. If another Realtor® represents the buyer, then that commission is split in half (each side earning have of the commission). For example, a seller in a traditional transaction (not a short sale) may agree to pay a 6% commission. 3% of this commission would be allocated to the selling brokerage, and the other 3% to the listing brokerage.
In a short sale, the seller will net no proceeds from the transaction. So, the bank (the same bank ... more

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