short sale sellers: Short Sales - 3 Biggest Concerns When Selling as a Short Sale
- 01/20/14 07:53 AM
If you are a short sale seller or if you are considering selling your home as a short sale in San Diego County or anywhere in California, then you probably have some concerns about the process. You are not alone. Short sales are a very unique and stressful transaction, and many home sellers and prospective home sellers have some concerns and questions about the process. My team has helped hundreds of distressed borrowers in San Diego County to successfully sell their homes in short sales, and we understand the concerns of home sellers about this process. Here are the … (2 comments)
short sale sellers: Beware of Deficiency Judgments - Short Sale Sellers Watch Out!
- 01/14/14 05:38 AM
A deficiency balance, depending upon where you live, can come back to bite you in the butt; it could haunt you years later. So… you had better watch out! What Is a Deficiency Balance? In short sales, the short sale lender often approves the short sale. What this means is that they approve the sale of the home at a specific amount, which is less than the amount owed on the mortgage. The difference between the amount owed on the mortgage and the amount approved the in the short sale is called ‘the deficiency.’ One of the chief concerns of … (5 comments)
short sale sellers: California Short Sale Sellers - You Could Get 5k at Closing
- 01/09/14 06:16 AM
The Transition Assistance Program has been around for a few years. But, with all of the short sale incentive programs available, lots of folks that needed this program may not have taken advantage of it. Now, however, with many incentive programs a thing of the past, it’s time to take another look at the Transition Assistance Program. Distressed California Homeowners May Qualify for California's Keep Your Home California Transition Assistance Program (also called TAP) If your financially distressed California clients can no longer afford their homes and are pursuing a short sale or a deed-in-lieu of foreclosure, they may be eligible … (0 comments)
short sale sellers: Do California Short Sale Sellers Get a Federal Tax Break?
- 12/24/13 12:32 AM
After recently getting the news that California short sale sellers will not be liable to taxes when selling their homes in short sale (even after the end of the Mortgage Debt Relief Act of 2007), many California short sale sellers still have questions. Will they be liable for Federal taxes? How does this tax break work? At Short Sale Expeditor®, we’re not Certified Public Accountants and we don’t pretend that we are. It’s always best to investigate the answers to all tax questions by speaking with a tax attorney or an accountant. But, with that in mind, let’s have a closer … (0 comments)
short sale sellers: Short Sale Sellers Must Want to Participate in the Short Sale
- 02/16/13 03:56 AM
Happy Saturday! While I was at my regular Saturday morning workout, I had a phone call from an angry Realtor® who had set out to one of our listings in order to conduct the Broker Price Opinion. The short sale package has been at the bank for several weeks, and the bank is in the process of the HAFA review. Before we can get short sale approval, the lender needs to conduct a valuation of the property in order to confirm that the offer on the table is a viable one. Lots of hours have already been put into this transaction, … (3 comments)
short sale sellers: How to Address Short Sale Seller Stalls and Objections
- 11/28/12 06:24 AM
Agents often complain about the short sale transaction; they are long and frustrating. However, the best feature of a short sale listing is that there are very few seller stalls and objections. Since the seller will not net any money from the sale, the purchase price is generally not objectionable. Additionally, since the seller is not paying the real estate commission, this is not an area of seller concern When you take a short sale listing, be ready to address the primary seller concerns: The impact of the short sale on the seller’s credit The tax implications of the short sale … (68 comments)
short sale sellers: Before the Short Sale Listing Appointment...
- 09/21/12 11:42 AM
For real estate agents, when a client calls you and sets up a listing appointment or a consultation to discuss a possible short sale listing, make sure to “pre-qualify” or “interview” that client on the telephone when setting up the appointment. Ask questions to find out about the number of mortgages, whether the property taxes are current, whether any HOA dues are current, and whether the borrower is still making the mortgage payments. Then, if you have not already done so, order a copy of the preliminary title report or a property profile from a local title company to confirm the … (5 comments)
short sale sellers: 5 Questions for Short Sale Sellers
- 08/29/12 12:13 AM
If I write it here, then you might want to heed the advice. That’s because I’ve closed over a thousand short sales, and I know what needs to happen to get the job done. One common thing that we see is agents so eager to take the short sale listing that they forget to ask some of the key questions at the listing consultation. What happens is that oftentimes borrowers would really prefer loan modification to short sale. Learning the answers to these key questions can be the difference between short sale success and short sale failure and frustration. Here are … (4 comments)
short sale sellers: Top Tips for Short Sale Sellers in 2012
- 06/12/12 11:33 PM
Summer is here. Perhaps you purchased a new book to read while sitting under an umbrella at the beach in Encinitas or Oceanside. Or, perhaps you downloaded a bunch of fun apps or summer movies to watch on your iPad. If you haven’t done either and real estate is you bag these days, check out Broadpoint Properties’ Best Short Sale Tips for 2012. Here they are: Bank of America Now Offers Short Sale Relocation Assistance That’s money, folks. Effective the middle of May, for certain short sale sellers, Bank of America will pay up to $30,000 to the short sale seller … (6 comments)
short sale sellers: Escondido Home Sellers Getting Out from Underwater – New Year’s Resolution
- 01/03/12 12:36 PM
Escondido Short Sale Sellers - Get Out from Underwater Everyone makes New Year’s Resolutions—lose 5 pounds, go to the gym three times a week, work harder, spend more time with family, etc. This year, it seems that many homeowners may want to add another New Year’s Resolution to the list: getting out of my underwater property. (That is, homeowners who owe more on their mortgages than their properties are worth may want to sell their homes in a short sale in 2012). You see, at the end of 2012 of the Mortgage Forgiveness Debt Relief Act of 2007 will expire. This … (6 comments)
short sale sellers: What Seller Costs Are Involved in a Short Sale?
- 01/01/12 07:36 AM
Here’s a question that people are always curious about: How much does it cost to do a short sale? Well, the answer is two-fold. If you are wondering how much commission you will be required to pay in a short sale transaction, the answer is ‘zero.’ Here’s why: In a short sale transaction, the seller is netting no proceeds from the sale. That is, the seller owes more on his/her home than the property is worth and the mortgage lender(s) have agreed to accept less than the full payoff. The mortgage lender also agrees to allow some of their proceeds to … (4 comments)
short sale sellers: Escondido Short Sale Agent Advises to Pay HOA Dues
- 04/26/11 05:05 PM
As short sale experts, we see many short sales go through our office. Not only do many of our agents list and close short sales regularly, but our company also provides short sale negotiation services to agents throughout California and beyond. Often times short sale sellers in San Marcos and beyond want or need to participate in a short sale because they have a real hardship. The hardship could be job loss, illness, divorce, or a change in the mortgage interest rate. Generally, many Escondido short sale sellers have already ceased making payments on their loan(s) because they are having … (3 comments)
short sale sellers: Sellers in San Diego County and Beyond: Here Are Five Great Posts for You!
- 06/21/10 01:52 AM
If you are considering selling your home in Escondido, San Marcos, Vista, Oceanside or anywhere in San Diego County, there are a number of things to consider before hiring a Realtor®. Here is a list of several blog posts that will provide you with lots of information about the current real estate market and real estate in general. The list also includes posts with tips and tools for home sellers in San Diego County. Want to Sell Your San Diego County Home? This post provides some tips and tools for anyone considering selling a home-short sale or traditional sale. Short Sales … (2 comments)
short sale sellers: Short Sale Sellers: Learn About HAFA Here
- 04/20/10 12:27 PM
Attention Short Sale Sellers in North San Diego County and Beyond! Have you heard about the government's new short sale program where you may be able to sell your home in a short sale and walk away with a little bit of cash for your moving expenses? If you have (or even if you have not), now is the time to learn more about the HAFA program. This short video explains the program in pretty simple terms. If you are interested in the program and live in San Diego County or Riverside County and want to know if you qualify, please … (6 comments)
If you are a short sale seller or if you are considering selling your home as a short sale in San Diego County or anywhere in California, then you probably have some concerns about the process. You are not alone. 
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