When it comes to short sales in Southern California or elsewhere at times short sales can be anything but short! If you're a home buyer buying a short sale, or if you're a short sale seller I think you will find this information helpful.
Short Sale ~ Do's
- Be sure you understand your commitments and expenses contained within your contract.
- Are you required to submit your initital deposit to the escrow or title company even if your offer hasn't been accepted by the seller's lender(s)?
- Are you required (by contract) to proceed with the appraisal at this point?
- Will you be required to complete the property physical inspection?
Short Sale Don'ts
- Don't open any new credit or make any large purchases during the home buying process.
- Don't change jobs while buying a home.
- Don't make any unusual or large deposits while in escrow.
- Don't co-sign for anyone else.
- Don't pay of any debts/close accounts during the home buying process
These are just a few do's and don'ts while in escrow! Bottom line DON'T DO ANYTHING WITHOUT FIRST SPEAKING WITH YOUR LOAN PROFESSIONAL, your loan originator or lender, because what may seem like a good idea to you could make the difference between a failure vs. a successful closing.
So when you're looking for competent and knowledgeable real estate help, contact me: Lynda@PreferredHomeBrokers.com or (714) 595-1494 Text or Direct. I'm the Broker & Owner of Preferred Home Brokers and we've been successfully representing Southern California home buyers and sellers for 35 years!
Check out our other 2-Minute Real Estate Videos and Subscribe!
CA Real Estate Contract ~ Understanding the Contract
Working With a CRS ~ A Certified Residential Specialist
Home Selling 101 ~ 5 Tips to Successful Home Selling
Probate & Estate Home Selling ~ When That Time Comes
Offer Accepted? ~ What's Next?
Home Buying With a Home Warranty Policy
Home Buyer Disclosures & the Statewide Advisory
Home Buying Know How in a Homeowner's Association
--CA Broker's Lic. Since 1976 ~ 00402040
Wish you'd also post this in YouTube Thursday as this is a good example of another type of video we can use for marketing our niche. You are obviously the one to call regarding Short Sales in Southern California.
Hi Lynda,
Another informative video tutorial. Short sale is a subject matter affecting most communities. Having good information will be helpful in making wise decisions.
May you have a very successful year.
Lynda
Really like this series and in particular this video. The more people know thebetter prepared they will be since expectations are often not reality.
Jeff
Lynda,
It seems like FOREVER since I've spoken with you. Your video was great, as usual!!! Informative, like always! I might just have to come back to AR.
Hi Debb, you are so right, somehow I missed that. I was only thinking about the V-bloggers...& funny I knew I was missing something when if did that, thanks for the reminder.
Jennifer ~ Good to hear from you thank you!
Jeff ~ I'd agree about having clients prepared.
Ray ~ Oh my, how long has it been? Hope life is treating you well in beautiful Ft. Smith! Hope to see you around again in the Rain.
Good tool to use for marketing Lynda. You're offering people value with your tips and video. You do a good job with your camera presense and narration skills.
Glad to have you in our growing group of YouTube marketers. :) Debb
Hi Debb ~ Thanks so much, not sure how I missed this, I thought for sure I'd joined before...because I visit the group often!
Hi Lynda, This is an excellent series and so professionally done. I think your videos really have given you a special niche that is so far above what I have seen others do. You are a real credit to our industry and deserve a great deal of recognition. Well done!
I am suggesting this because this is so well created.
Lynda, really great information and great video presence. Have a great day continuing to educate consumers and clients.
Cal
Lynda, great points for those sellers looking for advice! It is best to hire a Realtor with short sale knowledge!
Hello William ~ Thank you so much for your very kind words. My videos hopefully are informational for home buyers and sellers.
Hey Cal ~ Thank you so much.
Joan ~ I'd agree with providing the info for those who need it, especially when it comes to a short sale. It can be so confusing at times, consumers don't know where to turn.
Hi Lynda,
This is valuable information for home buyers. Too often a buyer can have his deposit tied up in an escrow that is going no where.
Hi Tina ~ I'd agree and all too often consumers do not realize that once funds are deposited into escrow that it takes "all parties" signatory to release anything. I've seen issues when sellers have financial issues, then followed by martial problems. Then one spouse or the other does not want to sign off.
Now is there eventual recourse for buyers, yes but could be month and months down the line and it takes legal action. Who want to be tied up with such uncertainty? Most importantly it's about consumers making fully informed decisions for themselves.
Hi Debb ~ Thanks for the visit & gold star, love being part of this group. Seems like everyone has something to share...it's a great place to learn from each other. Thanks!
Lynda Your video speaks volumes about your in-depth knowledge of the real estate business. You are an asset to the community - suggesting
Hello Karen ~ Thank you for your thoughtful comment!
☔Lynda, love love love your videos! You are such an inspiration to so many of us! And what a terrific video for anyone considering short sales! Well done.
Pamela
Hi Pamela ~ Thank you so very much for such a wonderful comment, love it myself!
Lynda~ Your delivery on these 2 minute videos is so professional. I love how you speak. It's so authentic. So knowledgable. Great job! And I love how you put your list of other 2 minute videos in the post, as well. Nicely done! :)
Hey Nyssa ~ Thanks for the drop by and nice comments!
Lynda - excellent video and a very productive idea of Two minutes video. You are very organic on the screen!