What is a short sale-By Los Angeles Short Sale Agents Munson Realty
What is a Short Sale-. In the past, it was rare for a bank or lender to accept a short sale. Now, however, due to overwhelming changes in the market, banks and lenders have become much more flexible when it comes to approving short sales. Recent changes in many corporate policies and the Obama administration have also greatly improved the chances of getting many short sales approved.
To be clear, here is a more technical definition:
What is a Short Sale-When a seller must sell their home for less than they owe on the property, and the lender that they owe the money to agrees to take less than they originally loaned to the seller, that is a short sale.
The "short" of the sale is the difference between what the property can be sold for now minus the loan balance. Example: Home owner owes $400K on loan for their home, but the home is only worth $300K. The "short" of the sale would be $100K Plus Expenses that the Lender would have to take a loss on.
What qualifies a seller for a short sale?
Here are just a few examples of Hardships that may qualify a seller for a short sale.
Loss of Job
Death of a spouse
Who are we?
Munson Realty's Los Angeles short sale agentsare a group of real estate/property advisers, escrow agents and title representatives with the intention to streamline the short sale process. Our goal is to create a win-win scenario for "you", the homeowner and your lender. Our team of experts has helped countless distressed sellers through the stressful threat of foreclosure.
But what is a short sale if it can't save you from foreclosure? Well, we close short sales and save homeowners from foreclosure where others fail. We will be very direct in telling you that we cannot guarantee we will save you from your "auction sale date" but we do have a 92% successes ratio. To date, the only reason we have not been able to successfully close on a short sale is because the seller has reached out to us too late.
In California, you have approximately 90 days (may vary from lender to lender) from the Notice of Default filed by your lender for property to be sold at property auction.
Getting the short sale process started now can stop foreclosure. If your intention is to stop foreclosure through a short sale then it is important that you start the short sale process sooner rather than later.
Our Los Angeles short sale agents and their services are at NO Cost to you!
Contact us to schedule a free evaluation. We will never ask you for a single dollar to short sale your home. Your lender, not you, pays our fees. In fact, there is a very good chance we can negotiate $3,000 in relocation expenses on your behalf.
Call our Los Angeles short sale agents now at 323-216-9671 if you are ready to avoid foreclosure through the short sale process. Or you can fill out this Our consultation is free and confidential.
Stephen Munson-Broker/Owner of Munson Realty|Southern California Real Estate is originally from Wichita, Kansas, and has lived in Los Angeles for over 20 years. He was born in 1968 and is a second-generation real estate professional. Being brought up in a family of real estate professionals, you could easily say that real estate is in his blood! He has personally practiced real estate for over 11 years, while his family has been in the business for over 2 decades. Stephen Munson has always been attracted to serving the clients that require the most diligent care and need more attention than the traditional buyer or seller. Stephen specializes in sellers who are in difficult situations, such as avoiding foreclosure through a short sale or difficulties selling their home the first time around. First-time buyers are also some of the clients Stephen Munson is passionate in serving. He feels first-time buyers really need super focused coaching and a lot of "hand holding," which he really enjoys. As broker and owner of Munson Realty-Southern California Real Estate, Stephen employs only Realtors (agents) that share his enthusiasm for excellence in client care and integrity. "My agents must be able to bring a talent or skill set to the business that no other agent in town can offer, and they must do it extremely well!" Stephen Munson is also author and host of several real estate related blogs and a professional public speaker. Aside from professionally coaching his agents in the craft of real estate, he also coaches other agents from around the country.