Vince McEveety

It's that time of year again... the beginning. We get to look at the year past and see what's happening now in the world of Marina Del Rey condos.... By way of comparison here's a whole bunch of charts. Let's talk about them.

San Diego Short Sale Realtors come in a lot of shapes and sizes, indeed lots of creeds and colors, political parties and religious affiliations. While being a member of a certain group or being a certain type of person may make one a good person, does is have anything to do with being a good Short Sale Real Estate Agent? Not Necessarily.

There certainly is a skill set that underlies all the good Short Sale agents. Compared to a regular equity sale, the San Diego Short Sale has different characteristics that an agent must master to be great.

1. Persistent Communication

The time factor in getting a Lender to approve a Short Sale may be one of the biggest stumbling blocks to agents who want to master the process. Keeping after the Bank in a way that is strong without being off-putting, and then aggressive enough to know when to "Escalate" a file to get things to happen, this is one of the crucial skills in being successful with Short Sales.

Along with the communication with the Lender, it is also important the potential buyer knows what is happening. Often many short sales are lost because of poorly managed expectations on the part of the Buyer's agent to the buyer. As we approach Mastery in San Diego Short Sales, our communication with the Buyer side is also as diligent and we help them to set expectations appropriately.

2. Organizational Skills

A regular equity sale needs someone handling the myriad of details, getting the one hundred and fifty or more pages of documents together, signed, on time, all the "I"s" dotted and "T's" crossed. There are many different people from many different trades that have to work together and coordinate toward a successful closing.

Now take a San Diego Short Sale Lender who decides after three months of having everyone wait that they don't want to close in 30 or 45 days per the contract, instead they MUST have it closed or no deal in ..... 21 days. It happens.

There is nothing extraordinary about closing a deal in 21 days if the Listing Agent has all the control.... and they don't. Lenders that they are often not familiar with will drag their feet and blow up a deal. Handling some of these issues up front is what separates the excellent Short Sale Agent from the novice.

While some of the great San Diego Short Sale agents have learned these key skills through the school of hard knocks, some of us have had an advantage of operating our businesses like the workings of a Swiss watch from the outset.

If you want to experience the difference that a move from good to great can make in your life it's easy to get more information. Simply send me an email at vincemceveety@gmail.com or give me a call at (619) 928-9829 and we can discuss what's happening in your mortgage relief quest, the NINE Alternatives to Foreclosure in San Diego, and find the solution to your situation. When you think San Diego Short Sale, think Vinnie Mac, He's got your back.

Peace to You and Yours.

San Diego Short Sales have many twists and turns in them and some potential sellers are currently drifting toward the far more damaging foreclosure sale because they are afraid of the costs.

People looking for Loan Modifications, Mortgage Relief Options, indeed any of the Nine Alternatives to Foreclosure in San Diego often find that after any and all of the options available are explored that they can't get their head around the Short Sale because of the fear of the cost.

There is some good news here. The Bank is going to pay for the cost.

In a traditional equity sale there are title and escrow costs that are often paid for by each party to the transaction. The buyer will usually pay some or all of their closing costs and the seller, the same.

So ... what does a Lender do when someone that owes them hundreds of thousands of dollars notifies them that they can't pay their mortgage and are asking for a short sale?

Well... they pay the costs of course.

When a San Diego Short Sale is approved by a Lender, more often than not the cost of the transaction is going to be paid by that Lender. Often the Lender will even pick up some of the costs to close the home sale for the buyer. In a traditional equity sale the Home Seller will sign a contract to pay a commission to the Listing agent who in turn offers some of that to a Selling agent, or in common parlance, the buyer's agent. In a Short Sale the Lender is not only going to pay closing costs to get the transaction completed, they will include the commission to boot.

Think about it this way. If a home owner has undergone a tumult in life, there are circumstances that make it near impossible to pay back the mortgage, the Lender will absolutely want to sell the property Short Sale rather than it go into Foreclosure. The Bank knows after having looked at the financial information of the seller that there is little ability to pay closing costs and therefore, to complete the sale they will come up with the dough.

Paying 8% of a sales price to close a deal will almost certainly be better than losing another hundred thousand dollars or more after going through a foreclosure process.

If you are thinking about mortgage relief options it's easy to get more information. Simply send me an email at vincemceveety@gmail.com or give me a call at (619) 928-9829. When we talk we can go through the different options available and help you find the best solution for your situation.

Whether you're thinking about a San Diego Short Sale to buy or sell, remember "Vinnie Mac, He's Got Your Back."

San Diego Short Sale practice reveals many different preconceived notions about what is different and what is the same from a traditional equity home sale. Recently I found that a potential short sale seller admitted that he knew of some real and potential problems with the home, yet he thought that it was unimportant to tell the buyer about them because they would most likely get a home inspection.


While it is as close to mandatory as can be, the home inspection is still a suggestion, indeed a request that is highly recommended... and even with this having been done, there is a reliance on a third party that does not have the knowledge that a home owner would have of the quirks, the nuance, the legitimate problems that his home demonstrates through time and season.


Though there are significant differences in a San Diego Short Sale process than a traditional sale, Disclosure is not one of them. A seller in a short sale has as much legal culpability as a regular equity seller when it comes to disclosing known facts, any insurance claims on the home. These things do not have any bearing on the qualification of the home for the short sale from the lender's point of view, though measured in terms of severity they should weigh upon the broker's price opinion, and be taken into account there as well.


The unease with which some short sale sellers release the knowledge of defects shows that they understand that value is affected, yet most likely the resulting loss of value will most likely be the burden of the lender, resulting in further loss of their leveraged debt into the property.

The real question that any potential San Diego Short Sale seller should ask when it comes to disclosing known defects is, "why risk more legal problems later?" Buyers will get an inspection, yes. But what if the inspector misses a problem that the previous short sale seller knew about? Who is the new owner, the buyer, going to blame? Who will they most likely sue? You, the seller.

Everything in the open is the best practice and the best way forward.


Looking to learn more about the Nine Alternatives to Foreclosure in San Diego? Thinking about a short sale? Simply send me an email at vincemceveety@gmail.com or give me a call at (619) 928-9829 and we can set up a FREE consultation where you can get all your questions answered, and make the right decision for your situation.


When you think of San Diego Short Sale, think "Vinnie Mac, He's got Your Back."


Peace to you and yours.