Short sale frustrations with Santa Clarita Short Sales – or any Short Sale – could easily be the reason so many homes head to foreclosure. The lengthy time frame to complete a short sale, combined with hanging in the balance waiting for the mercy of the lender is wearing to say the least. A short sale can be a great way to avoid foreclosure and save a credit rating but it often takes thick skin and a whole lot of patience.
There are also a lot of so called, “Short Sale Centered companies” that have come out from nowhere since short sales have become profitable for the agents and those negotiating them.
You see, a short sale should not cost you anything – IN fact, the bank will pay your Real Estate agent – the one that is representing you and the one that is bringing the buyer. Most Agents farm out the work to other agents or lawyers – When they do so, without informing you, you then have a GREAT chance to become the client of someone that you did not intend to hire in the first place 🙁
One of the most frustrating things about a short sale is the fact that if the home were already foreclosed upon it could be sold immediately, possibly for less than it would sell for a short sale price, so why won’t the bank simply agree to a short sale? Either way the bank is losing money, why go through the foreclosure process if the home could be sold as a short sale? Be prepared. Have proof of what your home is worth in today’s real estate market and demonstrate that accepting the short sale is in the lender’s best interest.
A short sale has a much better chance of occurring when an experienced REALTOR is involved. When connections exist the short sale process tends to run more smoothly. The key to a successful short sale is preparation and determination.