Short Sale
What is a Short Sale?
A Short Sale is where a lender agrees to allow a distressed homeowner to sell the property for an amount less than the homeowner currently owes on the mortgage.
Why lenders are willing to take such a discount?
Lenders do not want excess inventory of empty homes and non-performing loans on their records. Lenders are willing to go through the short sale process to cut the bank's losses and to avoid costs (foreclosure or hire a realtor to sale a foreclosed home).
Why hire a professional to negotiate your short sale?
Without the help and backing of an experienced real estate agent, a Short Sale could be a stressful process. Our agents at Del Amo Realty, are experienced short sale negotiators willing to help you all the way. Our methods and persistence allow us to obtain faster responses and more favorable terms for our sellers.
Who pays for the short sale?
There is no cost to you for our Short Sale services. We collect our fees from the lenders and the buyers.
Carlos del Amo - Real Estate Broker and Real Estate Attorney
Lenders may ask homeowners to sign a promissory note or a specific agreement in order to close the short sale transactions. Closing a short sale under these terms places the homeowner at a disadvantage. Only a qualified real estate broker and attorney such as Carlos C. Del Amo, can offer you free legal advice and guide you to make the right decision.
