I Want To Short Sell My House To My Son

I Want To Short Sell My House To My Son

Being a Stanislaus County Short Sale Agent on more than one occasion I have had a seller ask me if they can do a short sale on their home and sell it to their son or daughter or brother or some other family member. I think in a round about way what the seller really means is that they are going to stay in the home. They hope that a family member can buy the home and they can stay in it and make the payments for the family member.

My experience as a Stanislaus County Short Sale Agent is that NO you can not do this. Actually in most cases this is considered fraud. Your lender will agree to do a short sale on your home after you prove to them that you can no longer afford the home. You also have told the bank that you have have some sort of hardship that will not allow you to afford the home now or in the future. The bank now expects you to sell the home in a Stanislaus County Short Sale and move out.

In most cases when the bank accepts a short sale on a property they will have all parties (buyers,sellers, agents) sign what is called an "Affidavit of Arms Length Transaction". What this form says is that you can not sell the home to a family member, business associate or friend. Below is an example of some of the wording of an Affidavit of Arms Length Transaction.

So if you are thinking about selling your home in a Stanislaus County Short Sale you need to speak to a Stanislaus County Short Sale Agent. You need to speak to someone that is experienced at listing and selling Stanislaus County Short Sales. Call me today at 209-633-2839 and we can discuss your options. I look forward to hearing from you.