Who is this property being sold by (bank or seller)?

Asked by Roberto Aguilar, Los Angeles, CA Tue Apr 7, 2009

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This question is about this property: http://www.trulia.com/homes/California/Los_Angeles/sold/1750…

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2
Dyanna, , California
Tue Apr 7, 2009
Hello Roberto. This property is a short sale which means it might be on the market for some time. The agent has to submit documentation to the bank justifying a short sale, the bank has to review it and then give its approval or denial. Although short sales are good, they might be time consuming and a waste of time. I had a short sale with Countrywide, had an approval, but due to the market the property value declined and had to wait another 2 months to get another approval. During the 2 months the property was vandalized and had to re-submit for a lower value and that took another 3 months. All together we were in escrow for 12 months and the property was taken back by the bank because at the very end the seller had tax liens and they went against the property making it impossible to sell as a short sale. I tell you this to make you aware of the problems that one can face with a short sale. I have a very high short sale approval, but sometimes the cards are not in your favor.

If you need a list of properties that already have short sale approval or bank owned, please let me know.

Good Luck,
Dyanna
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Phil Missig, Agent, Beverly Hills, CA
Tue Apr 7, 2009
Property is being sold by Seller, it is a Short Sale.

Let me know if you would like to me you help any thing else.

You can reach me directly at pm@philmissig.com.

Thank you,

Phil Missig
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