Dana Point Short Sale Agents|What is a Short Sale?
A short sale is any time you owe more on your home mortgage than current home value on the real estate market, and your lender allows you to sell the home for less than the current loan value, that is a short sale. The conditions vary somewhat but with the market prices of homes in Dana Point taking a deep plunge in the last several years, many homeowners find themselves facing new and difficult financial circumstances, often the by product of a job loss or failed investment produce the inability to keep up with their mortgage payments.
A successful Dana Point short sale agent will bring skill and short sale listing experience to the table and will already know how to excel in handling the complex and sometimes seemingly treacherous processes that are part of every Aliso Viejo short sale.
In your Dana Point short sale, there are four seats at the bargaining table with four different interests. Your Dana Point short sale agent must be constantly aware of and carefully negotiate the interests of each. They are:
- The Dana Point homeowner
- A buyer
- The servicer who processes the paperwork
- The investor(s) who owns the mortgage and who make the final decision
When the investor(s) signs the approval, the Dana Point short short sale is basically a done deal, but processors don’t always go with the flow even with investor approval. Even when your Dana Point short sale agents follow lender and investor directions- to call in and have the foreclosure date postponed, loan servicers may “change their mind” even in the final hours of a short sale. Sellers have found out, sometimes in the last 48 hour window that the foreclosure is moving ahead on the original scheduled foreclosure sale date.
It is critical that you not hire just any agent, who lacks experience in closing short sales. Short sales are complex and filled with pitfalls. Closing and foreclosure are often just days apart and the day that gets there first for you, the Dana Point short seller makes all the difference between a successful sale and an unforeseen and sudden, unexpected Dana Point foreclosure.
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