This is the fourth in our series on Short Sales...make sure to check out Who is Eligible for a Short Sale? , Are There Any Credit Consequences to a Short Sale?, Your Monthly Payments and a Short Sale, and Short Sales - how long does the process take?

A short sale should not cost you anything at closing for sales costs.  We strive to complete the entire short sale process without having you, the seller, bring any money to closing.  In most cases borrowers pay no sales costs if the lender approves the Short Sale. All commissions, title and escrow fees, and even most repair expenses may be paid by the lender as part of the Short Sale approval.

There are some items that certain lenders will not pay however.  These items may include unpaid Homeowners Association dues, delinquent utilities, certain repairs - especially cosmetic.  If you know you are behind on association dues or utilitites, it would be a good idea to set aside some money for these at the close of escrow. 

Remember, lenders approve Short Sales and accept the resulting loss in an effort to avoid bigger losses through foreclosure.

We work with a negotiating team to help us with the short sale approval process.  They understand how to effectively gather and present the information that lenders require.  They have excellent working relationships with the Loss Mitigation Departments.  The cost of using a 3rd party negotiating team is paid from our commission at the close of escrow. 

Remember there are no commissions or fees paid unless the short sale is approved and escrow is closed...the commissions will be deducted from the sales proceeds the bank receives, not paid by you as the homeowner.

When should we begin working on a Short Sale together?

Ideally we would like to begin working on your Short Sale as soon as you recognize that you are unable to keep up with your payments and will be falling 30+ days behind.  The sooner we begin working with you on the short sale process, the more you increase your chances of a successful closing.  If you have additional questions on short sales, please call us at (916) 405-5766.

If you are behind in your mortgage payments or are having financial difficulty and think you might want to discuss the option of a short sale, please call us at (916) 405-5766 or send email to  We are here to help!

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Lori Mode & Bruce Durham, Keller Williams Realty, Elk Grove