Short Sales

What is a Short sale?

A Short sale is assistance to a Homeowner seeking to avoid Foreclosure. As an alternative to foreclosure the lender allows the homeowner to sell the home for less than what is owed on the mortgage.

Click below to view a quick video about Short Sales

Why Short Sale?

If you find yourself in a position of Hardship and your property is worth less than you owe the Bank–you are a Short Sale candidate. Hardship can mean loss of job, income, health, relocation, divorce, interest payment change (up) and more.

In most cases Short Sales are completed at no cost to the homeowner.

The Federal Government and the State of California have passed laws to help you sell your property and in most cases avoid Tax consequences and provide Debt Forgiveness. Short Sales also have a much lower impact on your credit score, allowing you to re-build your credit in much less time than a foreclosure. We are up to date on all the available opportunities afforded the Short Sale homeowner such as funds assistance for moving at close. We can discuss the particular options available in your circumstances.

We have our own “on staff” Attorney at The VanLeeuwen Family Team, who will meet with you (our client) for a free consultation to see if you qualify for the short sale and answer any questions you may have. If you proceed with the Short Sale with our Team you can rest assured that our experience as Negotiators and our Staff Attorney will seek to reach a successful and beneficial Short Sale making this an easy transition for you while selling your property.

Example Short Sale Scenario:

You owe $500,000., but your home is only worth $400,000. What happens to the $100,000 still owed to the Bank. This is the Short Amount–meaning you are asking the Bank to accept a “short” pay off of $100,000.

Why Would A Lender Do This?

When a loan is eligible for a short sale, usually it means the homeowner has stopped, or intends to stop making payments to the lender/s. If the homeowner is no longer making payments, the lender is no longer making money. Short Sales are typically a better option for the lender as the alternative, foreclosure sale, tends to yield a lower sale price and come with all the usual costs of sale plus the added legal fees not usually associated with short sales. It is in the lenders best interest to get rid of the bad asset as soon as possible. Although Short Sales are not a short process they are on the other hand typically quicker than the foreclosure process.

Here is how it works:

We list your home and we sell it as close to Market Value as possible. We submit your completed paperwork (we help you compile it), with your buyer’s contract and the required documentation for your lender(s) to consider. We build the case and negotiate daily on your behalf until the Bank agrees to accept the amount less than owed. This is critical–how your negotiator presents, prepares and completes the documentation for your individual case makes all the difference in getting your Short Sale accepted.

Why choose the VanLeeuwen Team:

Short Sales should be left to experts. Choosing the wrong negotiator can have negative results and can prevent your successful Short Sale. We are certified Short Sale Negotiators with years of Short Sale experience and success. We have a Staff Attorney keeping all the legal requirements up to date and watching over your personal interest. We do have the knowledge and the experience to get the “job” done for you professionally. Isn’t that what you and your family deserve?