Short sale my Hill Crest home in San Diego, CA

By
Real Estate Agent with HomeSmart Realty West Cal BRE#01427412
Short sale my Hill Crest home in San Diego, CA - Zipcode 92103. Here's a bit of good news if you're reading this blog and haven't heard any in a while regarding the real estate market. The San Diego housing market has a shortage of listings. That's right, there aren't enough homes on the market for sale right now to meet the demands of buyers looking in Hill Crest.

So, if you're like many Hill Crest home owners struggling to hold on to your home either because of job loss, job relocation, divorce, interest rate adjustment or death of a family member, doing a short sale might be a good option.

Click on the form to find out what your house is worth? We'll respond with a quick property value.


 
A short sale is a negotiated settlement whereby the lien holder accepts less than what is owed on the outstanding mortgage loan.


How a short sale works? - A real estate agent would list the home and submit an accepted offer to the lender for approval. The real estate agent works on behalf of the seller to reach a negotiated settlement.  Once the terms of the settlement have been agreed upon with an approval both buyer and seller would resolve to complete the escrow process and close the transaction.

How long does it take to complete a short sale? Due to the complexities of doing a short sale the process can typically take anywhere from 3-6 months. It's not uncommon for some short sales to take less or more time to close.

Can I stay in my home while I"m doing a short sale?  Yes you can.

Can any lender opt to do a short sale? Yes. This includes the popular lenders like Wells Fargo, Bank of America, Chase, GMAC, USAA, and Navy Federal Credit Union.

Will I receive money from doing a short sale?  A seller is not allowed to financially benefit from completing a short sale. However, the lender can offer what's known as "cash for keys" which is a small compensation to the homeowner for moving costs.

How do I learn more about a short sale or to find out if it's the right option for me? Contact my office by completing the form below or giving us a call at 619-248-5484.

Let us help you get your life back!

Find out what your home is worth?




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Rainer
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James A. Browning
Browning Real Estate School/REO Institute - International, IT
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Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado; Spring is here in the Rocky Mountains

Apr 25, 2012 04:17 PM #1
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Rainer
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Lorraine Santirosa

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