San Diego Short Sales
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If your property is worth less than what you owe on the home loan, a short sale may be your best alternative to foreclosure. A short sale is a real estate transaction where a homeowner is facing a hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. While it is generally beneficial for a bank to grant an approval on a short sale in order to avoid an expensive and time consuming foreclosure, the seller generally must prove a hardship. Possible Hardships Include:
As you can imagine, the process of getting a hardship package accepted, avoiding deficiency judgements, finding a qualified buyer and satisfying the bank’s pre-closing conditions….. requires specialized skills and highly organized systems. With numerous successful San Diego Short Sale closings within the past three years alone, we have the experience, bank connections and negotiation savvy necessary to help San Diego Sellers.
Why Choose A Short Sale Vs. Foreclosure?If you are unable to pay your mortgage payment, and a loan modification is not the long-term answer for your scenario, it is significantly beneficial to attempt a short sale before you simply walk away and give your home back to the bank in a foreclosure. A foreclosure is considered by banks an abandonment of a debt, and may be held against you by future creditors and employers for several years. In addition to the negative credit score implications, there is a possibility that your previous lenders will file a deficiency judgement and basically sue you for their losses during the foreclosure process. Bankruptcy is generally your only protection if it gets to that point. However, in many instances a short sale can be negotiated where the debt is settled at the time of sale, releasing the borrower from any possible future liens or repercussions. 
More Questions? (619) 500-4025 We have a complete San Diego Short Sale Frequently Asked Questions page if you prefer to browse around a little before calling us. Or, feel free to ask a quick question in the form on the right. |
Important Legal Information: (Yes, it is beneficial to read this as well.)
Shelter Realty is an independently licensed Real Estate Company that specializes in San Diego Short Sales, Short Sale Negotiations, Marketing Short Sale Listings on the MLS and other similar Foreclosure Avoidance solutions.
Shelter Realty Inc. is not associated with the government, and our service is not guaranteed by the government or your lender. Any result of our service is completely voluntary between the borrower and their lien holders. Even if you accept this offer and use our service, your lender may not agree to change your loan.
It’s important to keep in mind that nobody can guarantee that your short sale will be approved or close in time to save your property from going into foreclosure. This includes your bank, you mortgage lender, an attorney, the government, another loan company, a loss-mitigation company and another real estate agent.
There are a number of things outside of Shelter Realty’s and the seller’s control that can go wrong with a short sale transaction, which may include appraisal, property inspection, other lien holders, the new buyer’s funding, natural disasters, as well as many other items.
This is why it is so important to work with an experienced REALTOR that specializes in Short Sales “Full-Time.”
