SHORT SALE PALO ALTO
A short sale is a real estate transaction where a homeowner is facing hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. If your house in Palo Alto, CA is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.
Short sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our short sale team has a high success rate on approvals from the banks and closed short sales in Palo Alto 94020, 94022, 94024, 94028, 94301, 94302, 94303, 94304, 94306, 95033, San Francisco, San Jose, Oakland, Fremont, Santa Rosa, Hayward, Sunnyvale, Mountain View, Santa Clara, Vallejo, Berkeley, Fairfield, Richmond, Daly City, San Mateo, South San Francisco, Redwood City, San Leandro, Alameda, Union City, Milpitas, Newark, San Rafael, and Bay Area, California.
Bank approves short sales when they believe a hardship situation exists, however, hardship is not only determined by how much money a person earns but also it factors in a person's expenses, especially if expenses have increased and income has decreased.
Stop Foreclosure Palo Alto
Let our experienced Palo Alto short sale real estate agents help you avoid foreclosure in Palo Alto, CA. We will negotiate directly with your banks to get short sale approvals for you. Our goal is to reach out and educate homeowners who are behind on their mortgage or think they soon will be. We have solutions that may save your credit and enable you to start fresh.
Palo Alto short sales are complicated but, can help sellers who owe more than home is worth. A short sale occurs when a property is sold for less than the total debt owed on the property. Palo Alto short sale must be approved by the lenders and borrowers requesting a short sale must prove a hardship such as a mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation.
Our professional short sale service is totally free for our clients. Contact us for a free confidential consultation today!
Palo Alto Short Sales
The very easy schedule of home loans and several connected approaches like the settlement of equivalent monthly installments has made buying a house a very easy task. With the fast growth of real estate service in Palo Alto, you can quickly prepare an ideal house for yourself now. However, many times, such investments can end up being dangerous. Mortgages on a house also can show to be the hugest risk possible. You commonly can not pertain to terms with the place. At the same time, there are several chances that the worth of your home can depreciate rather than value. Therefore, the value of money that you have spent on your house is much more than its existing worth. This at some point ends up being a higher issue, if you got your home on a mortgage. To this rescue, comes a passionate option called Short Sale.
By doing a short sale, we just suggest that you can sell your undervalued home to another home buyer with the approval of your bank. If the money owed to the bank occurs to be greater than the amount you will actually get, in case you sell your house, then the best choice would be to do so. If the bank agrees to a short sale, you can sell your house to a home buyer at its decreased value and also get the balance written off by the financial institution. Typically, the bank writes off your balance from its account. The sum not paid by you shall be shown as earnings in your accounts by the financial institution.
Short sale Palo Alto only occurs when there is an outright guarantee that the money worth of your home can not increase in the future. To avoid the risk of a total loss, the bank frequently approves the decreased amount of short sale.
Dangers also exist if you are the one that buys short sale homes in Palo Alto, CA. There are lots of common mistakes that people make when they purchase a home for themselves in a short sale. If you are buying such a house, then you have to very carefully inspect the condition of the house. Real estate investment will only pay if your house is in good condition. Another common mistake is that of overlooking house problems. You need to make sure that there are no forgeries or legal problems with the property that you are getting otherwise it could result in bigger troubles in the future.