Finding That Perfect Short Sale Buyer

By
Real Estate Agent with RE/MAX Gold DRE #00697006

sacramento short sale buyerIf I could name one thing that makes my Sacramento short sales successful, I'd say it's finding that right Sacramento short sale buyer. I'd like to believe it's my superior negotiation abilities and extensive experience in closing short sales, and those things are involved in the short sale process, but it's really helping my sellers to choose the right Sacramento short sale buyer.

I just closed a Sacramento short sale in the Pocket. I suspected from my previous experiences with this particular type of lender, CCO, that we would most likely be facing a situation in which the second lender would demand more more money than the first lender would be willing to pay. That's always a sticky situation, but it's even stickier if it will blow the whole transaction.

Sometimes, the first lender will not allow a larger payment to the second lender. There are reasons for this. One is if there is any extra money floating about, the first lender wants it. The first lender is the lender who generally stands to lose the most, but not always. Another reason is the first lender's investor guidelines might be very specific regarding how much the second lender can receive in a short sale. A third reason is California Civil Code 580e says a seller can't contribute.

Read more about the Perfect Sacramento Short Sale Buyer.

Photo: Shutterstock

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Weintraub and Wallace Realtors

 

 

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Topic:
Home Buying
Location:
California Sacramento County Sacramento
Groups:
Short Sale Specialists & Pre-Foreclosure Education
Short Sales Specialists
Short Sale REALTORS®
Lyon Realtors
Diary of a Realtor
Tags:
sacramento short sale
sacramento short sale agent
sacramento short sale buyer
cco short sale
short sale pocket

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Rainer
232,743
Pamela Smith
Award Realty - Sun City West, AZ
Sun City West, Corte Bella, Sun City Grand

Elizabeth,

Many agents, including myself, have issues with short sales.  You my friend are the Master!

Aug 13, 2012 11:44 PM #1
Rainer
234,697
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Elizabeth - all short sales seem to offer some twists and turns and you know how to navigate them. Regards Dave

Aug 14, 2012 12:29 AM #2
Ambassador
3,090,260
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I think you hit the nail on the head with finding the right buyer for a Short Sale.  Short Sales are difficult enough without having to sell the same house two or three times.  Once is enough.

Aug 14, 2012 07:24 AM #3
Rainer
77,100
Sara Mehrpouyan
Rodeo Realty 818-903-2040 - Los Angeles, CA
Short Sale Agent - Los Angeles

I agree, the right kind of buyer is also necessary on a short sale. I've had some buyers hang in there and be open to going the "extra mile" to get the short sale finally approved and closed. Great blog, Elizabeth!

Aug 14, 2012 02:17 PM #4
Rainmaker
2,189,769
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hi Pam: Some people questioned my sanity years ago when I elected to specialize in short sales, but I don't regret it.

Hi David: The thing about a short sale is no matter how many you close, there is always some new kind of horror lurking.

Hi Chris Ann: I don't want to have to sell that house a third time or a fourth time, but I will if I have to. It's cutting down on the number of times I have to sell a house when we find the perfect buyer to start with, though.

Hi Sara: If buyers don't want to hang in there, they shouldn't be trying to buy a short sale; that's all I have to say about it.

Aug 14, 2012 11:50 PM #5
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