Our Short Sale Is Approved, But Now Where Do We Move?

After waiting tirelessly for months on end for a short sale approval, it finally came. With a buyer and short sale approval we proceed to escrow. We are in the final stretch. But with the  dip in credit scores endured by many sellers in short sales, finding a landlord that is willing to rent is sometimes difficult.  The process can be both physically and emotionally draining.  

Here are a few tips to help with the process:

1. Enlist the help of family and friends. They may come across friends they know who would be willing to look past a few credit issues because they know someone in common.

2. Be willing to compromise. Youmay have to compromise for a short wile as to some of your ideal preferences. Maybe it's not the exact location you want or does not possess as many upgrades as you are accustomed to. Remember, this is temporary. Life will not be this way forever. Compromise a little now and know that you can improve upon it later.

3. If an investor is buying the home or someone who does not need to move in right away, you may be able to "rent back" from the new buyer. Many times you can negotiate this and it wors well for everyone.

4. Be prepared for a few rejections but know that you can get through them. Yes, you will run across your share of landlords that can't see past your recent short sale or credit issues. Don't take it personally. Realize that they are simply making a business decision. Keep moving along until someone says "YES"

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.