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California's 100% Commission Real Estate Brokerage

FORECLOSURE VS. SHORT SALE

What is a Short Sale?
How can we help?
Will a short sale cost me anything?
How do I get started?



What is a Short Sale?

By now, almost everyone has heard the term "Short Sale", but not everyone understands what it means and how it works- A homeowner falls behind on his or her mortgage payments, usually due to a job loss, rising debt payments, or rising rates on an adjustable mortgage. Facing a situation in which the home value has fallen, and the property cannot be sold for the amount owed on the mortgage, a deal is negotiated with the lender to sell the home for the current market value. Since the amount of the sale is for less than the amount owed on the mortgage, the lender gets all proceeds from the sale, and discharges the remaining debt. The reason that lenders are open to short sales, even though they end up taking a loss, is that in most cases the loss is significantly less than the cost they would incur to foreclose on a property. Under this agreement, the lender releases the borrower from the mortgage, thereby preventing foreclosure. One of the main pros of a short sale is that the negative impact it has on your credit score is substantially less than a foreclosure...in fact, most people can qualify to purchase a new home within 2 years of short selling their home! With a foreclosure, it can take 7+ years to be able to qualify for a new mortgage.

How can we help?

We are experts at negotiating short sales, and our agents have successfully negotiated countless short sales for our clients throughout California. Upon listing your property, we will begin negotiating a short sale with your lender and searching for a qualified buyer. Once an acceptable offer has been received and we have obtained your lenders' approval for a short sale, we will sell your home so you are able to walk away with minimal impact to your credit. If you have received a notice that your property is scheduled to be foreclosed, we can quickly postpone your sale date in most cases. However, it is highly discouraged to wait until the last moment because in some cases, it simply does not allow enough time to take action.

Will a short sale cost me anything?

No, not at all. United Realty Group provides its services at no cost to the homeowner. Our fees are paid by the lender, never the homeowner, and we are only compensated if we successfully negotiate a short sale and get the property sold.

How do I get started?

The first step is making sure that a short sale is the best option for you, and being aware of any alternative options that might exist. Give us a call for a free consultation, and one of our distressed homeowner advocates will go over your options as well as educate you further on the short sale process. After asking a few questions, we will also be able to determine if you qualify for a short sale.

Call our Short Sale Hotline today, at (877) 393-8648, or contact us by clicking the link below.



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Short Sales

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United Realty Group; California's 100% Commission Real Estate Brokerage, California Standards Realty, and United Capital Escrow are all divisions and registered names of California Standards, Inc, a full service real estate company. CalBRE# 01877638. 2292 Faraday Avenue, Suite 100, Carlsbad, CA 92008. California Standards, Inc. fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.


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