- Years of Experience: 7
Direct: (831) 917-1680
Coldwell Banker Del Monte Realty
501 Lighthouse Ave
Pacific Grove, Ca
A short sale is different from a foreclosure. A short sale is when the net proceeds from the sale of your property won’t cover your total mortgage balance and closing costs and you don’t have other sources of money to cover the deficiency. A foreclosure is when the bank (or your lender) takes title of your property and puts it on the market. The process can be a very emotional one for you and your family. It is important to realize that in the end you’ll be relieved from the stress of dealing with a difficult financial situation and you can start looking at the future again.
4. Start gathering documentation before offer comes in. The short sale package that accompanies an offer typically includes at least:
5. A short sale doesn’t always solve your financial problems, that’s why it is very important to consult a tax-advisor and or attorney to go over your specific situation.