Fact:  1/3 of all Short Sales do not close escrow.  There's either too many liens on a property, the bank won't accept the short sale, or the buyer backs out because they're tired of waiting on the bank to make a decision.  Below are a few things I would recommend if you're considering making an offer on a short sale home to help make the process go as smoothly as possible from the buyers' side of the transaction: 1).  Has the Short Sale been Approved by the Lender?  If the bank has already accepted the price and … [Read more...]

More and more short sales are getting approved in the Big Bear real estate market these days.  Banks simply don't want to take a property back and by completing a short sale the banks save time, money, and they get the property off their books.  As a seller, you avoid the stress of a lengthy foreclosure process and you can preserve your credit rating. What is a Short Sale? A short sale is a procedure in which the borrower is allowed to sell the property for an amount less than which is owed in order to avoid … [Read more...]