Today we offer Santa Clarita Short Sale Myth Number Eight!
Update! As we approach 2015 we are updating all of our content on this blog site. It’s a major undertaking but we are committed to providing our visitors with only current and reliable information. When this post was published back in 2010, there were many myths and misunderstandings associated with Short Sales not only in Santa Clarita, but throughout Southern California. To help clear up some of these incorrect assumptions, we offered our Santa Clarita Short Sale Myth series. Although most of the misunderstandings about short sales are rarely a problem, there are still some folks unfamiliar with the whole short sale process. Therefore, upon review of the content we find it still relevant and accurate, so it will remain available for visitors. As always, should you have any questions, please feel free to contact us when needed. Call Matt Gregory at 661-347-6955
As a Certified Distressed Property Expert and local iRealty Broker, I have been fortunate enough to have helped many friends and clients avoid foreclosure by short selling their homes. As a local Santa Clarita Real Estate agent and active in the Santa Clarita Real Estate market, I make myself available for free consultations almost daily. Remember, if you’re struggling with your mortgage there are options and solutions. Loan Modifications often are not the answer. Watch the video and read below to find out more.
Santa Clarita Short Sale Myth Number Eight is: Any Santa Clarita Real Estate Agent can work a short sale! This is FALSE!
A short sale transaction can be time consuming, frustrating and most often it’s a complex and lengthy process. It requires experience, training, patience and good understanding of how the various lending institutions deal with short sale submissions. Understandably, most of us have a Santa Clarita Real Estate agent we have used in the past. Most consumers first thought when they consider selling is home is to contact an agent referred by a friend or one they may have used in the past. Be advised, this could be a mistake with a short sale. Not every agent has the training or experience to negotiate a short sale. If the agent you choose has little or no experience with short sales, you will be jeapordizing the success of your short sale! If they have no specialized training in short sales or no track record with successful short sale transactions, you may be taking a risk you can’t afford. We don’t offer this advice lightly. We usually advise consumers to choose an agent they know and are comfortable with. With a short sale we still advise the same, but be sure your agent has short sale experience and be sure to verify it! If you want to be sure you’re in good hands, choose an agent that is also a Certified Distressed Property Expert!
Short sales are tough enough to close, even for the experienced Santa Clarita Short Sale Agent. Also, it’s best if the short sale agent uses an experienced bank negotiator. Some agents have almost no experience in dealing with the lender’s short sale representatives. It this is so, this agent is at a huge disadvantage when trying to negotiate with the bank themselves. We do not advise anyone use an agent with no experience in specifically negotiating a short sale with lenders. Here are some questions any homeowner should ask their prospective Santa Clarita Real Estate agent:
- Have you ever worked a short sale? If so, how many short sales have you successfully closed? Have you received any specialized short sale / pre-foreclosure training
- Do you negotiate with the lender yourself? If the answer is yes, what are your qualifications to provide this service
- Do you use and pay an experienced negotiator? If so, who do you use? What are their qualifications
- How much will I, as a homeowner, have to pay for my Real Estate Broker to sell and negotiate my short sale? In most cases, the answer is $0. It’s FREE. The lender should always pay the broker, not the seller!
- Your new agent should try their best to help you avoid foreclosure and stay in your home. The agent should be able to help you analyze any possible loan modification options. Your agent should help you to understand all your options before you decide to short sale your home, even if it means “no listing” for your agent. This process should cost you nothing!
- Be sure to check your prospective Santa Clarita Real Estate Agent’s references. You can’t afford to have your transaction fall apart due to inexperience!
As a local iRealty managing broker, I have has received specialized training as a Certified Distressed Property Expert and pre-foreclosure Specialist. I have been fortunate to have helped many Santa Clarita homeowners short sale their homes and avoid foreclosure. I am truly passionate about short sales and have plenty of references from previous clients. Contact us today at 661-347-6955.
We hope you found this post helpful and look forward to your comments about Santa Clarita Short Sale Myth Number Eight.Santa Clarita Short Sale Myth Number Eight