I have completed over 200 short sales in the past 3 years. Here are a few guildelines to see if you qualify for a short sale. There are no 100% rules, but with a good real estate agent to help and the proper documentation, your chances of completing a short sale if you qualify are very good.
1. You owe more than your home is worth
2. You have a legitimate hardship - loss of income, loss of job, illness, divorce, relocation
3. You do not have have alot of assets
4. Your tax returns for the last 2 years do not show alot of profit
These are a few basic guidelines to get an idea upfrint if you qualify for a short sale.
Please call me for a FREE no obligation analysis of your personal situation.
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
Hi Lori
Great information. Your post is easy to read and understand even for the most concussed client.
Best regards from the Q
Short sales are complex and time-consuming. Your post offers some excellent basics for someone who wonders if they may qualify for a short sale.