- Name
- Pamela Seley, REALTOR® Temecula Valley California Homes
- Company
- Bassett & Associates, REALTORS®
- E-mail
- Contact Pamela Seley, REALTOR® Temecula Valley California Homes (Bassett & Associates, REALTORS®)
- Website
- http://www.searchtemeculavalleyhomes.com
- Cell Phone
- (951) 491-4063
- Fax
- (951) 537-6549
- Address
- Temecula, Murrieta, French Valley, Winchester, Menifee, Sun City, Perris, Hemet, San Jacinto, Wildomar, Canyon Lake, Lake Elsinore, Corona, Riverside
- Description
- Residential real estate serving Southwest Riverside County, California | Providing comprehensive real estate services | Direct 951.491.4063 | CA DRE Lic # 01824145 | Short sale agent
Pamela Seley, REALTOR® - Serving Southwest Riverside County, CA
Pamela Seley, REALTOR® of Bassett & Associates, REALTORS® - Licensed since 2007, CA DRE Lic. #01824145 - Serving Southwest Riverside County, California, residential real estate. Call Direct 951.491.4063
Memberships include: National Association of REALTORS®, California Association of REALTORS®, Southwest Riverside County Association of REALTORS®, and Hemet-San Jacinto Association of REALTORS®.
Searchtemeculavalleyhomes for sale in Southwest Riverside County California.
Need to sell your home? We offer comprehensive real estate services. Find out what your home is worth.
If you owe more than your home is worth, find out how a short sale can help you.
If you have experienced any kind of financial set back, such as job loss, pay cut, unexpected medical bills, increased monthly expenses, and find it difficult, or near impossible, to pay your mortgage(s) and bills each month, then you may want to consider a short sale to avoid foreclosure.
What is a short sale?
A short sale is when a home is sold for less than what is owed on a mortgage, or mortgages. A short sale is much like a standard sale--the only difference is the homeowner's lender must approve and accept a short payoff on the balance owed.
Foreclosure v. short sale ~ What’s the difference?
A foreclosure is when the lender takes back title to your home because of non-payment of a mortgage, or sells your home to a third party at what is called a "trustee sale" that takes place on the courthouse steps. A foreclosure is a derogatory mark on your credit report, which remains for 10 years. It can affect future employment, ability to get credit, and qualify for a home mortgage.
A short sale is much like a standard sale. The upside to a short sale is you can stay in your home until shortly before close of escrow. Customary seller fees and costs are paid by the lender. A short sale is less damaging to your credit rating than a foreclosure. It may be possible to qualify for another mortgage loan in as little as 2-3 years after a short sale.
The downside to a short sale is the process takes more time and paperwork to complete. There also may be tax consequences from a short sale. It is broker/agent recommended a homeowner seek legal or tax advice from a qualified attorney, or licensed tax preparer as to any legal or tax consequences to a short sale.
Short sale basics
There are a few requirements before listing a home for short sale.
- If the home is vacant, all utilities must be on and working
- HOA dues must be kept current
- Any liens on the property are the responsibility of the homeowner
- Provide copy of mortgage statement(s)
General lender document requirements for short sale review:
- Hardship letter
- Financial worksheet/statement of income and expenses
- Last two years tax returns
- Signed 4506-T IRS Request for Transcript of Tax Return
- Two months recent paystubs and/or last three months Profit and Loss Statement
- Two months bank statements of all accounts, all pages
- Third-Party Authorization Letter
Listing Your Home for Short Sale
Your home will be listed in the Multiple Listing Service (MLS) and marketed for sale on the internet. Your home will appear on consumer real estate sites, such as Trulia, Zillow, Realtor.com, Yahoo, and others. It's important to make your home available for showings to prospective buyers in order to receive a viable purchase offer.
After a purchase offer is accepted by you, your short sale package will be sent to your lender's loss mitigation/short sale department for review. This can take anywhere from 30 days to 4+ months, depending on your lender and their requirements. There is no third-party negotiator involved as I personally negotiate your short sale for you with your lender, or lenders. There is no fee to the homeowner for my short sale negotiation and real estate services.
Call today direct @ 951.491.4063, for a free consultation at no-obligation to discuss selling your home.
Temecula Valley California
Cities include: Temecula, Murrieta, Winchester, Menifee, Hemet, San Jacinto, Sun City, Perris, Lake Elsinore, Wildomar and other surrounding communities.
If you are looking to buy a home in Temecula Valley, California, please feel free to contact me for more information on how I can help you in your home search. Call direct @ 951.491.4063.
Search for Homes for Sale
Search Temecula Valley Homes for sale.
