Short Sale

What is a Short Sale?

A Short Sale is when we list your home at fair market value which is established by reviewing comparable sales of other homes in your neighborhood. We then market your home and obtain an offer. Once we have an accepted offer we then forward the offer to your lender and negotiate with them to accept the offer as payment in full of your mortgage debt. Once we have “short sale approval” we will then move forward with closing escrow. Most banks will also pay you a cash incentive at closing for your cooperation in the short sale process. Watch the video below for more information…

Will it save my credit?

Nobody really knows how a short sale will affect your credit… Depending on how the lender reports your short pay, ie a “settled for less than owed” or “settled” may be less of an impact than a Foreclosure. We believe anyone going through a Short Sale or Foreclosure needs to take Consumer Credit Counseling to learn steps to re establishing their credit for the future.

What are some of the benefits?

A sense of pride that you attempted to work out your situation in the best possible way is one we hear from clients. Less stress from the constant collection calls from the lender(s). Your home remains vacant less than it would as a Foreclosure (important if you have friends and relatives in your neighborhood who would be impacted by your home being vacant). Possible Relocation Payment**

Our Solution

Chad Costa & Company are Certified Distressed Property Experts (CDPE); this certification involves extensive short sale training and education. We also have relationships with over 30 banks and lenders. As a result of our education, certifications and relationships we have successfully closed hundreds of Short Sales. We represent our clients with respect and honesty. We will inform you up front of what is needed to complete your Short Sale and provide you weekly updates. Your home will be marketed just like our regular listings with extensive internet marketing, multiple photos and more. We do not market the house as a Short Sale to the public (no pre foreclosure signs etc) and will disclose the Short Sale status only as a pre curser to potential buyers submitting an offer and in the MLS as required. We will keep you up to date with legislation that may assist you with Relocation Payments**.

Contact Chad Costa & Company at RE/MAX Executive for a confidential consultation and information package @ (209) 527-2525 or Chad@ChadCosta.com

*Relocation Payment of $1500 Proposed as part of Making Home Affordable Program Not meant to solicit existing listings, please disregard if you are presently listed