Escondido short sales can close escrow—despite what you hear on television and read in the newspaper.
A short sale is a real estate that occurs when a seller sells their home for more than what the home is worth. Usually, the bank forgives the difference between the amount owed on the mortgage and the purchase price of the property.
Short sales in Escondido and beyond do require a bit of patience as well as a significant amount of paperwork. You see, if you want to sell your home as a short sale, you real estate agent will need to submit a short sale package to the bank in order to obtain short sale approval. This package includes pay stubs, tax returns and other items that demonstrate the sellers qualifications for the short sale.
If you want to sell your home as an Escondido short sale, is it important to see whether you qualify for a short sale. It is also important to learn more about the tax implications of a short sale. You may also want to become familiar with the credit consequences of a short sale.
If you decide that an Escondido short sale is right for you, make sure to hire a qualified Realtor® to aid you in the process. This individual needs to have significant proven experience closing short sales. It is not enough to say that they have closed a few. A well-qualified short sale listing agent in Escondido and North San Diego County should have closed short sales in the double and triple digits. This way you can assure that your agents has the experience and know how to get the short sale transaction completed as efficiently as possible.
If you have any questions about the short sale process, please do not hesitate to contact me.
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