Hollister CA – Some sellers think that if they sell their house for more money, they are less likely to have a deficiency. Let me explain why that is not true.
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Another realtor recently told us about a short sale in which she was involved. This realtor was representing the buyers purchasing the house.
The short sale negotiation company the sellers were using told the sellers that unless the house sold for $295,000, the sellers would have a short sale deficiency.
Because of this, the sellers wouldn’t accept the buyer’s offer. I told them that couldn’t be true. Here is how short sale negotiations work.
A lender is losing money on a short sale. In most cases, it's losing a lot of money.
Losing just a little bit more money is not going to cause the lender to change its mind on whether or not it should pursue a deficiency.
A sales price that is $17,000 lower is trivial when compared to a $100,000 loss. Stop Foreclosure Institute Members have negotiated hundreds of short sales.
In most cases, the lender is either pursuing a deficiency or not pursuing one. A slightly higher sales price won’t change the lender's mind either way.
The lender will either accept the short sale offer on the table or counter at a price it will accept. The lender will pursue a deficiency even if the property sells for more money.
Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.
Or, click here to request a copy.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (831) 636-8858.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858. israel@ighomes.com.
View My homes for sale at www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
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Important Notice
Israel Gonzalez, Beale Properties, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Gonzalez's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sale Myth: If I Sell for More, Then I Won’t Have a Deficiency is provided as a courtesy to our viewers to help them make informed decisions.
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