Downtown San Diego Condos: FREE Short Sale Consultation

Courtesy of LYNfabrikken at FlickrShort sales have become the buzz words in the real estate world right now.  A simple explanation is that a lender will take less than what is owed because it is cheaper than waiting and taking the property as a foreclosure.  Although the lender gives you the idea they are "bending over backwards to help you", they are calculating how to mitigate their loss, not yours.  Downtown San Diego has a lot of buildings that come online over the last 7 to 8 years.  Prices have decreased.  Some owners may need to move on with their lives.

• There are a lot of scam artists in this new world.  We are always on alert for a "new" great deal.  Some people who say they can "help you" negotiate with the bank also want some up front fees.  NO NO NO!  There is no need to pay anyone money upfront.  A short sale can be negotiated without up front fees.
• We have found a company that will negotiate short sales and they do not take up front fees.  If the bank does not complete the short sale, there is no fee payment.  Makes it pretty simple for all involved.
• We are currently working with three of our sellers on these short sales.  One sale will close in Septmenber and the negotiator will be paid then.  In fact, as hard as this is to believe, the bank has agreed to pay the negotiator's fee.  These negotiators have done a great job for our client.  Although a short sale does impact your credit for awhile, it is a lot better than having a foreclosure on your record.  A short sale generally shows as Paid In Full for Less Than Is Owed  That is better than bankrupting yourself with payments you can't make right now.  Once you figure out how long it might take for your property to regain its value, a short sale may be the most prudent course of action.
• Although short sales can take forever to get approved, the timeframe is speeding up and when you work with someone who knows the players in the gaqme of short sales, it helps mitigate the frustration these sales create.

Victoria and I would like to offer an opportunity to anyone who is even thinking about a short sale.  Contact the negotiator we use.  Ask for a FREE consultation.  Daniela will tell you whether she thinks the short sale can be completed or not and get you out in one piece.  This consultation may put your mind at rest and at the least you will know your options and be able to make an informed decision.

Call Daniela Hanna @ 503-997-6662 (Premier Negotiations LLC) and tell her we suggested you call for the FREE consultation.  Pick her brain.  Give her name and number to anyone you know who might be in a tough spot right now.  Remember, there are NO UP FRONT FEES.  Just information.

By Sharyn & Victoria Crown, Coronado and Downtown San Diego real estate brokers

This is part of a series of articles entitled, New Condos, Downtown San Diego Style