San Diego California Short Sale Best Practices - What Does the Seller Owe the Agent if the Sale is Not a Success?

San Diego California Short Sale Best Practices - What Does the Seller Owe the Agent if the Sale is Not a Success?

The short answer.... nothing.

The little known fact is that if the deal doesn't get done in a San Diego Short Sale, the agent does not get paid.  We understand that the very reason you are short selling your home is because of a financial distress.  

The lenders provide payment for the diligence and skill of the agents in helping you avoid foreclosure, and thus, enabling them to suffer the least amount of loss in the process.

The Banks want a short sale more than a foreclosure simply from a financial standpoint... and often the home is a more valuable asset as it has been maintained in the process of a short sale versus an abandoned home that goes into foreclosure.

Lenders also know that sometimes when a home goes to foreclosure there are hard feelings that get taken out on the home, thus decreasing the overall net dollar amount the receive when the home is re-sold.

When you present the bank with an offer from a buyer, they will decide on the net dollar amount they will settle for, and then the transaction will close mostly like a regular sale... no muss, no fuss in the best case scenarios.

The San Diego Short Sale process has become more and more easy and commonplace as we are seeing some areas with over 30% Bank involved sales year over year.

The sad fact is that often a homeowner in a potential San Diego Short Sale situation won't even reach out to an agent because of the finances.  They don't understand that my services are paid for by the bank.

I get paid for completing the transaction and only then.

So worry not, there is a solution.  There are NINE mortgage relief options instead of foreclosure that you can take advantage of... and certainly any of these would be preferable to the damage that a foreclosure would wreak upon your credit for years to come.

If you would like some answers about how you can get your San Diego Short Sale done without paying the bank another penny, it's easy ... simply send me an email at vincemceveety@gmail.com or give me a call at 619-928-9829 and we can go through the options and work on what is the best one for you.