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The Most Important Short Sale Do’s and Don’ts | Short Sale Tips for Inland Empire CA Home Sellers

• Do educate yourself. This is THE most important thing you can do. Inland Empire CA Short sales can be complicated. You need every bit of information you can get when you jump into the short sale process.
• Don’t wait until it’s too late. If you drag your feet and hide from the fact that you’ve stopped making mortgage payments, it will cost your credit rating and it will put any chances of a Inland Empire short sale in risk.
• Do be diligent. There have been very closable Inland Empire California short sales that fail because the Inland Empire homeowners either stop responding to their agents, stop returning paperwork, stop returning phone calls, stop caring, etc. It can be a difficult process, but at the end of it you will be free of the mortgage, the upside-down Inland Empire house and your financial future will have a better foundation.
• Don’t stop taking care of your Inland Empire CA home. Yes, you will be moving, but if you stop mowing the lawn or keeping the place tidy, that unkemptness will discourage any potential buyers.
• Do keep paying your HOA dues! Any unpaid HOA dues will need to be settled either before or at the close of a short sale escrow. Sometimes the buyer or the first lien mortgage bank will contribute to these outstanding bills, but not every time. And Inland Empire California Home Owner Associations will send your defaulted HOA bill to a collection lawyer who will slap you and your property with their own outrageous charges.
• Don’t rent your Inland Empire CA home out. In these economic times there are unsavory renters, many of them lost their own homes, that don’t mind giving you the first month’s rent and a security deposit, only to never pay you another payment. You lose the Inland Empire house to foreclosure, but they live rent free for the foreseeable future.
• Do your homework when choosing a Inland Empire real estate agent or broker when you go to list your house for a short sale. The wrong Inland Empire California short sale agent can ruin your chances of avoiding foreclosure. Inland Empire Short sales require diligence, confidence and an unmatched work ethic. Find that Inland Empire CA short sale REALTOR that knows her stuff, knows how to work and knows exactly what the banks want to approve your Inland Empire short sale.
• Don’t think that you need a real estate agent that knows your Inland Empire neighborhood to short sale your Inland Empire CA home. In a Inland Empire California short sale transaction, it’s about the short sale negotiation and working relationship with your lender(s), not that your Inland Empire home’s location is special compared to the listing around the corner. Out-of-area agents easily price properties using a Comparative Market Analysis (CMA). In fact, banks regularly pay agents and real estate brokers a minimal fee, usually $50 or $75, to price out-of-area properties for them. Your local Inland Empire neighborhood real estate agent may not be the right person. You need a tough and knowledgeable short sale specialist.
• Do expect to move soon, or not for months. When your Inland Empire home receives an offer, that is just the start for your short sale transaction. But the bank could decide to approve your short sale right away, which means you may only have 30 to 45 days to relocate. But, the approval process could take up to three to six months! Don’t move prematurely. It makes no sense to pay rent while your Inland Empire CA home sits empty. Communicate with your agent and keep updated on where the short sale process is.
• Don’t stop paying your water bills, sewer bills or trash bills! Any unpaid bills may slow down or stop the short sale process.
• Do consult your tax man or even a tax attorney when considering a short sale. Even the best short sale agents are not legally allowed to advise on tax implications of your particular situation, and the best Inland Empire California short sale real estate agents don’t. A tax accountant CPA or real estate attorney has a better understanding and the legal right to advise you on such matters.
• Don’t think that you must have a real estate attorney to execute your Inland Empire short sale. Most times these lawyers don’t understand Inland Empire real estate or the short sale process as well as an experienced Inland Empire CA short sale agent does. In fact, many if not most of these lawyers offering short sales require an upfront fee to process your short sale. Inland Empire real estate agents and Inland Empire CA brokers only collect commissions from the proceeds of the sale, which comes out of the bank’s pocket, not yours.
• Do let your Inland Empire real estate agent put a yard sign in the yard. Yard signs tell buyers trolling streets looking at neighborhoods and houses that yours is a possible candidate.
• Don’t make viewing appointments unavailable and hard on buyers and their agents. The more potential buyers that see your Inland Empire California home the better chance of short selling it and avoiding foreclosure. Make that home as available to buyers as possible!
• Do yourself a favor and remember that millions of Americans are going though their own short sale, or unfortunate foreclosure. This economy is dreadful, and many are experiencing financial hardships and your particular situation is nothing to be ashamed of.
• Don’t apply for a home equity line of credit or any other type of credit. If you own other properties that have equity, refrain from pulling money out of any of them during a Inland Empire short sale approval. Your bank and any of your bank’s back-end investors will dig deep into your credit history and find this activity. This kind of action says you are just out for your own financial bottom line, and yes, they will take offense to that.
• Do a quick pick up of toys, laundry and any other items lying around when a buyer’s showing appointment is scheduled. Buyers will criticize your messiness like your mother-in-law, and worse, it could affect their offer which in turn could affect your Inland Empire CA short sale!
• Don’t make the mistake of thinking a foreclosure is not much worse than a short sale. It is. A foreclosure will decimate your credit; it will keep you from owning another home for years and it will be a part of your financial incompetence far more than you hope it won’t.
• Do keep your hardship letter short and sweet. Explain your situation as-matter-of-factly as possible. Then your bank will look at your finances, tax filings and other documents to verify and support your story. But DO NOT include in your hardship that you bought your Inland Empire home for more than it’s worth. The bank does not care your home is underwater. The bank is losing money too.
• Don’t strip the house of its fixtures or other potentially valuable assets. Taking the pool system, or the ceiling fans or the beloved touch-action faucets will degrade your Inland Empire California home’s marketability, and for what? A few hundred bucks will not make the financial blow of foreclosure any softer.
• Do all your paperwork and return to your Inland Empire CA real estate agent in a timely matter. Inland Empire Short sales can die if the proper paperwork is not supplied. It’s a silly way to screw your short sale, but it happens all the time.
• Don’t use a short sale negotiating company. They will charge you large upfront fees that they don’t have to return to you even if they do not complete the short sale. And these companies aren’t held up to the same Department of Real Estate code of ethics that Inland Empire California real estate agents and Inland Empire REALTORs are. In fact, some banks will not work with them!
• Do call and communicate with your bank(s) and let them know you are attempting a short sale. They have thousands of mortgages defaulting, and if they don’t know you are pursuing a short sale, your Inland Empire CA property may automatically be classified as a pre-foreclosure. Not keeping your mortgage holder informed of the status of your Inland Empire short sale can help expedite your house to foreclosure which will not help your short sale.
• Don’t violate the bank’s At Arm’s Length requirement for the Inland Empire CA short sale. The Arm’s length agreement required from the short sale lender prevents you from “renting the house back”. To avoid any fraud or risk that can result in the bank coming back at you for the balance of your loan. Do it by the book and follow the rules. The risk is not worth it.
• Do know that credit card companies may decide to pull your credit due to foreclosure. When a foreclosure shows up on your credit, it says that you are in financial distress and your credit risk increases dramatically.
• Don’t think you can’t short sale if you own other properties. This is a common mistake many multiple property owners make. A bank will more than consider a Inland Empire short sale even if you own two or more homes.
• Do clean the Inland Empire California home and property when you move out. Remove any trash, debris and take or dispose of any of your personal property. The condition of the property before transfer can have a negative effect on the buyer and their desire to own the Inland Empire home, and give them a reason to back out. Cleanliness is next to Godliness, and Sold Short Sales!
• Don’t assume the information about short sales you read on the internet is always correct. There are many real estate professionals, and many not-so-professional individuals, giving advice regarding short sales. Some do not have a clue how to handle a short sale, let alone give advice on the subject. Your best bet is to call and talk to any prospective short sale experts. Get a feel of their knowledge base and real estate confidence, and above all else only hire a Inland Empire CA real estate short sale agent with experience.

If you have questions or would like to talk to us about short selling your Inland Empire California house, call us any time at (888) 9-List-It. That’s (888) 954-7848.

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Find a Short Sale Listing Agent in Inland Empire CA / Inland Empire Short Sale Real Estate Agent / Short Sale REALTOR Inland Empire CA

It is easy for Inland Empire CA home sellers to find many listing real estate agents to list their Inland Empire CA home, but if you need to find a Inland Empire short sale listing agent, the task will be more difficult. A short sale real estate agent does much more than take pictures and put your Inland Empire home in the MLS (Multiple Listing Service) and put a sign in the yard.

The Inland Empire CA short sale agent also handles negotiations with your bank or banks. If your Inland Empire real estate agent has no experience dealing with short sales, loss mitigation and bank negotiators, you, the seller, may suffer. Most of our real estate home listings and sales in Riverside and San Bernardino Counties have been short sales. Our other home sales consist mainly of foreclosure REO listings, so we know what banks want and how to get a Inland Empire CA short sale successfully closed. Inland Empire CA short sales can be difficult, tedious and tough to negotiate. Never use an inexperienced real estate agent to negotiate your Inland Empire short sale. You may pay the ultimate financial price for their lack of knowledge and experience.

Are You Searching for a Short Sale Listing Agent in Inland Empire California?

Foreclosures and short sales have been prevalent in Inland Empire since the housing downturn, and many real estate agents began marketing themselves as short sale specialists. Some of these agents have little or no short sale experience. Ask them how many short sales they have listed in the past year. If they have listed and closed none or very little, they may not possess the skills to successfully close your Inland Empire CA short sale.

Our Short Sale Resume

We have closed many short sales and list 20 to 30 listings at a time. We do not share this to impress you, but to impress upon you the experience we have in short sale negotiations. We successfully close 98% of our short sale listings and work very hard to ensure our client’s needs are met.

A short sale can be the best option for you in these trying times. If you are ready to short sell your Inland Empire CA home, or if you have questions about how a short sale works, call us and let’s talk. Best of all, we offer our real estate short sale services for free. We will never charge you a single dime for the short sale negotiation. So call now to find out if a short sale is right for you. Call us toll free at (888) 9-List-It. That’s (888) 954-7848.

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Inland Empire CA Short Sale Specialists

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Real Estate Agents and REALTORS in Inland Empire, California

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What is a Short Sale?

A short sale is when a homeowner sells their house for less money than they owe on the mortgage or mortgages.

Short selling is an alternative to foreclosure for homeowners/borrowers who can no longer afford to keep mortgage payments current. Sometimes, to avoid going through the costs of foreclosure, a lender will

authorize a short sale by allowing a homeowner to sell the home for less than the mortgage owed.

Simplified Steps of a Short Sale:

• Homeowner signs a listing agreement with a real estate agent. This short sale listing agreement is subject to third-party/lender approval.
• The home is marketed to buyers.
• Seller accepts a buyer's purchase offer subject to the lender's approval.
• Seller's lender accepts the buyer's purchase offer, which is less than owed on seller's mortgage(s).
• Transaction closes at the end of escrow and when the buyer delivers the funds, the lender releases the seller's mortgage lien and the property to buyer.

Short Sales in Riverside CA

SHORT SALE YOUR HOME IN RIVERSIDE CALIFORNIA

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SAN BERNARDINO SHORT SALE AGENTS HELP AVOID FORECLOSURE

Don't make the biggest mistake ever... Do not let the bank foreclose on your San Bernardino home!

Loan modification is a temporary fix and can still leave you with negative equity.

A BETTER SOLUTION IS TO SHORT SALE YOUR SAN BERNARDINO HOUSE

• A short sale can let your deficiency be forgiven
• In most cases a short sale can leave you with no tax liability
• Our short sale real estate services are at no cost to you
• And we can help you get out of your bad situation

Don't be fooled! The bank will come after you and foreclose your San Bernardino house. They may even be able to get a judgment against you AFTER the foreclosure for the negative deficiency, which could be tens of thousands of dollars! But what is the difference between a foreclosure and a short sale? Here are your options of foreclosure vs. short sale:

CREDIT SCORE:

• A foreclosure will slash your credit score as much as 250 points or more, and can affect your credit for a minimum of 5 years or more!!!
• But a short sale only affects your credit score with the late or missed mortgage payments. The credit bureaus will report PAID or NEGOTIATED if you short sale.Your credit score will not be lowered as much with a short sale.

CREDIT HISTORY:

• A foreclosure will remain as public recorded on your credit report for 10 years or more.
• A short sale is not reported on a person's credit history. There is no specific SHORT SALE term and is most cases is reported as PAID, SETTLED or NEGOTIATED.

FUTURE MORTGAGE LOANS:

• If your credit report contains a foreclosure, most home mortgage lending institutions will consider you ineligible to purchase for 5 years or more.
• If you successfully negotiate a short sale of your San Bernardino property you may be eligible for a mortgage loan and purchase a new home in as little as 2 years.

DEFICIENCY JUDGMENTS:

• Banks have the right to pursue a deficiency balance if your foreclosed loan was not a purchase money loan (If you received any money for anything other than the purchase of your house, also called a hard money loan).
• In a successful short sale it may be possible to negotiate with the bank to release you of any deficiency balance and avoid any future judgments against you.

Need more information?

CALL US NOW TO SELL YOUR HOUSE:

1 (800) 9 LIST-IT

or (951) 490-3683

or click here: Listing Agents in San Bernardino CA

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Palm Desert Real Estate

The Palm Desert real estate market has been extremely volatile in the past few years, from foreclosures, short sales and standard sales as well. But Palm Desert real estate transactions are still happening in spite of the market crash and tough market conditions.

While it is true that many unfortunate Palm Desert homeowners are losing their properties to foreclosure, foreclosing banks and lenders are not in any hurry to list their Palm Desert foreclosed assets for sale. Banks have slowed the resale of their Palm Desert foreclosures to a trickle to keep the real estate marketplace competitive for buyers and to not flood the supply. It is a great time to buy Palm Desert real estate if you have the resources to do so, but there are many buyers and investors buying foreclosures. These conditions makes it hard to secure a purchase, despite popular opinion.

Palm Desert short sales have also become more prevalent, helping distressed Palm Desert homeowners relieve their financial hardship of the burdening mortgage, but short sale negotiations can be complicated and difficult. Many Palm Desert short sales fail to sell not because of a lack of willing and able buyers for the properties, but either the short sale agents handling the listings are not experienced or tenacious enough. If you're looking for a Palm Desert short sale agent to handle the negotiations and listing of your house make sure you're diligent about finding an effective professional to help you through the process.

Palm Desert standard sales also are a percentage of the Palm Desert real estate marketplace, but as with most standard sellers in this tough market, they either must sell at a higher price to cover the cost of sale and pay off any mortgages, or their Palm Desert real estate agents do not understand the Palm Desert real estate climate to effectively market and sell the property. Many sellers and their agents forget that they must adhere most of the conditions of the market to sell their Palm Desert property.

If you are interested in buying or selling your Palm Desert House, Palm Desert home or Palm Desert property, you need an agent that is a tough negotiator, understands this challenging Palm Desert real estate market and works in the trenches of foreclosures, short sales and standard sales every day.

We list and sell foreclosures, short sales and standard sales everyday, and we can put our experience to work for you too. Call us now to discuss your real estate needs at 1 (888) 9 LIST-IT, or visit our Palm Desert Real Estate Website at http://8889LISTIT.com.

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