What is a short sale? A question brought to us by Sam, one of our Santa Clarita real estate blog readers. Welcome to our Santa Clarita Realtor
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Short Sales are when the owner of a property has some sort of life changing event. It may be that they can no longer make the payments on their home due to the three d’s – Death, Divorce, or Disease. That are also job loss and other economic strife’s that could have entered their picture. No matter what the reason, they are now, going to have the bank approached, by their real estate agent, to allow them to sell the home for less than the amount owed.
This takes a bit of finesse by the real estate agent you are working with. It cannot be like releasing a “bull in a China closet”. It takes a lot more tact than that.
Remember, as we always talk about – work with local experts. Make sure your real estate agent is not just a self proclaimed short sale expert. Make sure they have a track record of performing short sales at a Higher than average Success Rate.
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