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HOW A SHORT SALE REALLY WORKS

HOW A SHORT SALE REALLY WORKS

HOW A SHORT SALE REALLY WORKS

 

After many request here’s how a Short Sale works in California:

First you find a ‘Short Sale’ property you like and submit a offer to the Seller. The Seller than signs the offer and submit this offer (together with a letter from the Seller explaining Seller’s hardship) to the Bank.  The Bank will take an average of about 4 – 6 weeks to approve the offer, and will then either accept the terms or counter your offer.

 

You don’t have an accepted offer until YOU (The Buyer) counter-sign the Bank’s acceptance or counter-offer. Remember, the validity of your offer expires by default 3 days after initial offer is made and the Bank doesn’t even respond until 4 – 6 weeks after that. So there’s absolutely no risk to you and it gives you additional time to consider whether or not you actually want to go through with the deal.

 

If you have any further questions on this, please call me or send me a note !

 

Rob Zwemmer

 

 

 

 

 

 

Contact Information

Photo of Zwemmer Realty Group  Ca.BRE# 01704275  Real Estate
Zwemmer Realty Group Ca.BRE# 01704275
Luxury Homes by Keller Williams
50981 Washington Street
La Quinta CA 92253
760-610-0204
Fax: 760-610-0304