Bakersfield Short Sale

Finding yourself in the position of considering a short sale is not a pleasant situation and one that should not be taken lightly.  Here are a few things you should know about the process.

1. This is not a Do-It-Yourself project.  You will need a professional that can navigate the process of selling your home, working with the lenders, keeping the buyer and dealing with all the other hurtles involved in this process.  Your CSP agent is trained to work with all the parties to keep the deal going and will implement several industry strategies that are unknown to 99% of all real estate professionals.
   
   
2. This is a time consuming process.  Unlike purchasing your home, the process of short-selling your home can take much longer.  During this time you need a professional that is skilled at keeping all the interested parties happy; buyer, lender, buyer's agent, and you the seller.  Your CSP understands the complexity of the task that is a short-sale and has been trained to keep the wheels turning to get the process done as quickly as possible.
   
   
3. Rationale does not hold water.  What we may think is rational may not work with the lender.  The lender has veto power on just about every aspect of the sale, from price, terms, condition of the property, and even commissions.  A CSP trained agent has learned the techniques needed to make sure offers are structured to get lender approval the first time through.  The less time a lender must spend on the file the easier it will be to get your short-sale approved.
   
   
4. Tax consequences of a short sale.  In the event that the lender approves the short sale you may be subject to different tax consequences such as claiming as income the debt that was forgiven.  Careful consideration must be used when examining your options.  Please consult a tax advisor or attorney.  Even the best CSP knows when it is time to call the experts and your CSP will have resources available to answer tax questions for you.

Those agents that have earned the CSP designation have proven their ability to navigate through the short-sale process and accomplish the desired result of selling your home before the situation deteriorates more.  This is not a process for the faint of heart nor is it a Do-It-Yourself. Possible damage that can become of a poorly executed short-sale plan runs from losing thousands in principle to having the property foreclosed upon.  Look for the CSP stamp of approval if you are in need of short-selling your home.

For Additional Information please contact: Miguel Garcia CSP at 888-673-0666 ext 1 or at www.miguelrgarcia.com