All through October we are discussing short sales here at San Diego Short Sales ASAP; the timing with Halloween is no coincidence. Muwahahahaha.
We understand many home owners are fearful of short sales, because on appearances the process is daunting. But the truth is that you just need to have the right set of tools and the right San Diego short sale specialist behind you.
To help alleviate your fears over short sales, we’ve created this “must do list” of things you need to do before you agree to a short sale.
- Understand that you won’t be making any money on the short sale of your San Diego home. However, if you don’t have any late payments, then you will walk away from a short sale without damage to your credit.
- Hire a home seller who can complete a comparable analysis and determine the value of your home. Your lender will require a professional analysis to confirm your home’s value has declined in the last five years. (Our San Diego short sale specialist can help, just click here to find out how.)
- Contact your home mortgage lender(s) to find out if they would consider you for a short sale and what documents and information is required.
- Collect all the necessary documents the lender needs in a short sale package . If you can’t provide the necessary documents, your short sale will not be accepted. Cover that base before you get an offer.
5. Be willing to set a reasonable selling price. Lower is not necessarily better in a short sale, even if you think it will help sell the house quicker. Banks understand home values and the sales process; work with them, not against them.
Check back with San Diego Short Sales ASAP next week when we discuss how short sales compare to the alternatives.
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