Home Buying in Santa Monica>Question Details

Ttcangel, Home Buyer in Santa Monica, CA

How and where do I find out about short sales? My family and I are looking to buy.

Asked by Ttcangel, Santa Monica, CA Tue May 19, 2009

Short sales information

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4
If you mean, how do you learn the process regarding short sales, you need to find a qualified agent to work with. It's a complicated process and learning about it is best done when you have lots of opportunity for back-and-forth questions-and-answers with an agent.

If you mean, how do I find properties that are short sales, those properties are listed with real estate agents on the MLS like all other properties...there's no special or secret list of them.

A couple of quick notes. Being a short sale, in and of itself, does not guarantee that a property is a "great deal." Short sales *can* be great deals and can be very rewarding to the Buyer who has the time, patience, and experienced agent to navigate the process. Last stats I heard, about 50 percent of attempts at short sales conclude in a successful sale. It's a multisided process with Buyer, Seller, and Seller's lender(s) and it require all parties to eventually get on the same page.

If you'd like to contact me, please contact me through my website, http://www.SantaMonicaHomes.net or call me at (310) 508-6878 (cell).
1 vote Thank Flag Link Tue May 19, 2009
The best thing to do, is to interview and hire a buyer agent. Once you have established a working relationship with an Agent he/she can search for Short-Sale and Foreclosure property for you that match the criteria (size, price, location, amenities)you have given to them. There is no charge for using a Buyer Agent, the Agent is paid, at the close of escrow a pre-arranged amount by the seller of the property.
0 votes Thank Flag Link Sat May 30, 2009
I agree with Jim. If you're looking for a good deal, concentrating on short sales only is a big mistake! There are many great deals out there right now, and interest rates are fantastic. Who knows if the rates will still be good after you're short sale is finally approved.

You need to find a reputable agent to help you through the buying process.

Karen MIller
(562)756-4144
0 votes Thank Flag Link Tue May 19, 2009
Email me @ jodi@jodisummers.com and I'll send you some detailed information that I share with my clients regarding the short sale process. It's too detailed for this short format.

Best….

Jodi Summers
The SoCal Investment Real Estate Group
Sotheby’s International Realty
310. 392.1211
jodi@jodisummers.com
http://www.SoCalGreenRealEstateBlog.com
http://www.SantaMonicaLandmarks.com
http://www.SantaMonicaPropertyBlog.com
**
A candle loses nothing by lighting another candle. - Erin Majors
0 votes Thank Flag Link Tue May 19, 2009
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