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Are short sales guaranteed to work?

No. Even though short sales are increasing they are still fairly complex, as I have stated. All the criteria MUST be met for a bank to even consider a short sale. It is not easy to convince a bank that the market value of the home is lower than what they are owed. They do not like to take a loss on a loan.

With short sales the banks must be convinced to discount the mortgage enough to make it viable for a potential buyer. So it is very important that every request that is made by the bank, we respond quickly and correctly. This is easily done by both us as broker and you as the homeowner on are the same page from day one.

In some short sales, we do all the paperwork and wait several weeks only to be denied. Again, the homeowner continues to own and live in the house if he or she chooses.

If the lender does not approve the short sale, The Pahua Group has no rights at all to the property and no transaction occurs. The purchase agreement becomes void and the listing continues.

From the very moment you contact us initially we make sure that you actually can qualify for a short sale. We are not here to waist your time or ours so it is crucial that you answer every question honestly so that if we attempt a short sale on your home, we are successful.

What if a bank doesn't accept the short sale?

Again, if the bank doesn't accept the short sale offer, there is no transaction and the home is still owned by the foreclosing homeowner and the foreclosure process continues.

Also if the bank does not accept the short sale, we probe the bank to find out why they won't approve it. It could be many different reasons why they would not accept it.

But then this goes back to the beginning of the short sale process and our pre-qualifying of your situation. As I said, we should know upfront whether or not we can short sale your property. If we know we can't then we will tell you. Our job is to help you not hurt you.