BENEFITS ON BOTH SIDES FOR SHORT SALES IN ORANGE COUNTY REAL ESTATE!
There are new rules regarding short sales meant to improve the experience for both sellers and buyers, but the legalities and legwork can overwhelm even the most savvy. Of course, that's where the real estate agent shines, handling the paperwork and the phone calls, leaving you to focus on your move.
Keep in mind that if you're expecting to buy a home on short sale, you can get a great deal, but don't expect miracles from a bank that has agreed to accept a price lower than what the sellers owe on their mortgage. These short sales often generate multiple offers, and if a home has been approved to sell for $200,000, don't expect to waltz in and offer $125,000.
The real advantage of a short sale deal is that the home will likely be in much better physical condition than its foreclosure counterpart. Often, a foreclosed home will have been abandoned for months, and perhaps trashed before being vacated. A short sale property in better condition is in and of itself a benefit with real value that offsets any lower price you could offer on a foreclosure.
And for sellers, a short sale preserves your dignity, reduces some of the stress, and won't damage your credit history as much as a foreclosure. Whether selling or buying, consult an agent for the best results.
Ask about our programs: Low as 10% down! Owner will pre-pay your mortgae insurance! Save at least $100 per month! Down payment assistance available up to $12,510 or 3% of loan amount in the form of a grant, does not have to be repaid. Larry Weichman is President and Broker of Costa Mesa-based real estate powerhouse Weichman Realtors,"the most trusted name in Costa Mesa Real Estate". Larry and his highly-trained team of professionals have proudly served Costa Mesa since 1976. For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. Be sure to visit Larry Weichman in Costa Mesa CA for the latest news and information on the Costa Mesa real estate market. Lic #00573423 (714) 241-4532 1525 Mesa Verde Drive East Costa Mesa, CA 92626-5221
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