Santa Monica short sales are currently on the rise. If you are currently considering a Santa Monica short sale on your home, you might be interested in finding out exactly what to expect from the short sale process. First of all, a short sale is when a homeowner sells their property for less than the amount owed on the property. The first thing we do is meet with you in person or talk with you over the phone to find out more about your current situation. We will look over all of your options together and determine the best one for you and your family. If we decide that a short sale is right for you, then we will list your home for sale at the current market value. Then it’s time to start collecting financial documents for your lender that will enable you to be considered for a short sale.
Although it might seem strange, usually lenders will not consider allowing you to complete a short sale unless you are behind on your mortgage payments. We will work with you to determine the value of your property. We will help you put your property on the market for the Santa Monica short sale and submit a Santa Monica short sale package. The lender will review the Santa Monica short sale package and determine your eligibility of a short sale. At this point your lender will assign a negotiator and order a BPO to determine the property value and help set the sale price of the home. Next, the short sale is negotiated and the property is sold if the lender agrees to accept the offer. If you have any other liens on the property these will be negotiated as well in the completion of your Santa Monica short sale. Please contact us today if you have any questions about the short sale process. Thanks and we hope to hear from you soon.