What is a a Short Sale?
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy have also improved the chances of getting a short sale approved.
But to be technical, here’s a more official definition:
A homeowner is ‘short’ when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage.
For homeowners to qualify for a short sale, they must fall into all of the following circumstances:
-
Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
-
Monthly Income Shortfall – In other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
-
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
This seems simple enough, but it is a complicated process that takes the expertise of an experienced CDPE professional like myself.
This can be a hard and stressful time, so please reach out to me anytime for a confidential analysis of your situation so I can help answer any questions or help point you in the right direction.
Pre-Foreclosure
If you are unable to pay your mortgage and you have equity, let's talk and see what options you have to avoid foreclosure. The bank will record an NOD (Notice of Default) after you miss several payments so it is imperative to come up with a game plan before this occurs. You have a little time after this is filed to catch up but if you know you will not be able to, you will need to explore your options so the bank does not take your home.
I have worked with many sellers in these situations and would be more than happy to share my knowledge and experience so you can make an informed decision before anything bad happens.
Sean Seckar, Realtor, CDPE
If you are a buyer and are looking for some great short sale properties, see below. As a buyer, you have to be patient as the bank can take awhile to approve the short sale and the terms, but in return, you can get a great deal. I have represented many buyers and sellers with short sales, so I have the expertise to get you the best deal and terms on your purchase.
Newest Short Sale Properties
Great 2 bedroom/ 2 bath unit located in a desirable area of Whittier with great school district. HOA covers water, trash, maintenance of common grounds that includes the...
- 2 Beds
- 2 Baths
- PW20135275 MLS
Short sale listing, Price is not guaranteed, Looking For Spacious Home!! This is the One!! This 4 Bedrooms and 3 Full Bathrooms is Located in a Very Desirable Area of Nor...
- 4 Beds
- 3 Baths
- SR20133181 MLS
Short Sale, Nice area of Hacienda Heights, priced to sell. Property does need work but has great potential.
- 2 Beds
- 2 Baths
- 20601116 MLS
IVESTORS WELCOME.... Cozy Single story home with 2 bedrooms , 1 full baths Perfect for a small family with great size backyard conveniently located walking distance from ...
- 2 Beds
- 1 Baths
- IV20132971 MLS
TRUSTEE SALE - MUST SELL! Single story 4 bedroom, 2 bath with attached 2 car garage. Vaulted Ceilings, open concept lounge area, can walk through and around the living ro...
- 4 Beds
- 2 Baths
- DW20132652 MLS
“Own The Whole Mountain” Build the biggest project in the valley... Subdivide this into 3 homes OR build the ULTIMATE celebrity compound for the Athletes, Vloggers, YouT...
- 20599836 MLS
Unique live/work space in the prestigious Broadway offers one of the largest floorpans available with two dedicated parking spots. Ideal for your L.A. office, studio or c...
- 1 Beds
- 2 Baths
- 20598780 MLS
Location! Nice cul-de-sac area at Holly Park. Three bedrooms, two baths, spacious living room with fireplace. Needs some TLC. Close to 110 FWY. Restaurants, schools, Etc...
- 3 Beds
- 2 Baths
- SB20127281 MLS
This is a SHORT SALE. 4 Bedroom; 2.5 bath home in Wrigley area of Long Beach (4th bedroom unpermitted). Living room with fireplace, dining area and family room with 2 c...
- 3 Beds
- 3 Baths
- CV20123145 MLS
Calling all cash buyers and investors!!! This large West Hills home needs some TLC and a buyer who can close quickly. This a short sale in foreclosure subject to lender...
- 6 Beds
- 8 Baths
- 20595230 MLS
Incredible opportunity in South Kentwood! Come and turn this house into the home of your dreams or finish the investment project. The majority of the rough work has been ...
- 4 Beds
- 3 Baths
- PW20120284 MLS
Nice duplex in the city of Commerce, with tenants, new kitchen coutnertops and close to the Casino, and close to the 5 freeway in the middle of LA and OC.
- 4 Beds
- 2 Baths
- OC20118353 MLS
This Beautiful Spanish Style Estate set within the heart of Quartz Hill, is just waiting for an Another Amazing Family to simply call it "Home Sweet Home!" This Three Th...
- 4 Beds
- 3 Baths
- SR20106475 MLS
ATTENTION INVESTORS!!! This one is for you! FIXER FIXER! Property is in need of Repairs. THIS IS ALSO A SHORT SALE AND A PROBATE SUBJECT TO LENDER'S APPROVAL AND PROBABLY...
- 3 Beds
- 2 Baths
- DW20105044 MLS
Major Price Improvement! Short Sale! Fixer! Cash Offers Only! At only $204 PSF South of the Boulevard in Woodland Hills, don't miss your chance to turn this property into...
- 6 Beds
- 4 Baths
- SR20104030 MLS
SHORT SALE IN A NICE RESIDENTIAL COMMUNITY. INSPECTION SUBJECT TO OFFER APPROVAL. PLEASE, SEE PRIVATE REMARKS.
- 5 Beds
- 3 Baths
- CV19281075 MLS
Pursuant to the Offer being reviewed we may place the property in the upcoming auction. All bids should be submitted at www.Xome.com (void where prohibited). All auction ...
- 4 Beds
- 3 Baths
- IV20102444 MLS
Rare opportunity to own a single level home, with an unusual large corner lot in a great residential neighborhood of Azusa. Partially updated with a newly installed kitch...
- 10 Beds
- 7 Baths
- 20581778 MLS
Short Sale.....price subject to lenders approval. Beautiful 4 bedroom 3 bathroom home close to schools, parks and shopping. Original owner pride and joy.
- 4 Beds
- 3 Baths
- SR20098095 MLS
This 3 bedroom and 2 bath home is located in a quiet cul-de-sac neighborhood in the city of Sylmar. The home features central air, ceiling fans, large living room, two-ca...
- 3 Beds
- 2 Baths
- MB20097533 MLS
None
- 2 Beds
- 2 Baths
- OC20095361 MLS
SPACIOUS, TURNKEY, UPGRADED FAMILY HOME WITH POOL, SITS ON AN OVER 1/5 ACRE LOT. REMODELED KITCHEN HAS GRANITE COUNTERS, CUSTOM MADE CABINETS, BUILT-IN STAINLESS APPLIANC...
- 3 Beds
- 4 Baths
- SB20093665 MLS
Approved Short Sale - Close like a Standard Sale - Highly desirable lower unit condo - 2 Bedrooms, 2 Bathrooms - Inside Laundry - Shaded Patio - Great Location in the com...
- 2 Beds
- 2 Baths
- OC20097108 MLS
Investor opportunity.Centrally located. Close to the 105 fwy,710 fwy. Few blocks from Plaza Mexico.
- 2 Beds
- 1 Baths
- 819003858 MLS
Large lot with a beautiful view. 3 bedroom 2 bathroom. Large master suite with a walk in closet. House does need some upgrading and has deferred maintenance. It has a 1 c...
- 3 Beds
- 2 Baths
- SR20080256 MLS
COME AND SEE THIS RECENTLY REMODEL 3 BEDROOM AND 1 BATH HOME.
- 3 Beds
- 1 Baths
- DW20080385 MLS
Cozy corner-lot home available now in the city of Paramount. Prime location near schools, shopping centers, churches and much much more. Located in a quaint neighborhood ...
- 3 Beds
- 2 Baths
- IV20045778 MLS
**IMPORTANT** DO NOT DISTRUB OWNER. THIS IS A SHORT SALE, BEING SOLD IN AS-IS CONDITION. NO REPAIRS OF ANY KIND WILL BE MADE. NO TERMITE SECTION 1 CLEARANCE, NHD, HOME WA...
- 2 Beds
- 2 Baths
- 20571994 MLS
Great opportunity to do the buyer looking for some cosmetic work. Spacious rear yard, open kitchen, one bedroom downstairs with full bath. Has 2 fireplaces - family roo...
- 6 Beds
- 5 Baths
- 220004005 MLS
VERY NICE COMMUNITY QUIET NEIGHBORHOOD. SPACIOUS HOME WITH NICE FLOOR PLAN 4 BEDROOM WITH FIREPLACE. ALL OFFERS WELCOME. LOW HOA FEE. CLOSE TO FREEWAYS . GREAT LOCATION!
- 4 Beds
- 3 Baths
- DW20001711 MLS
Great lot in a desirable area.
- MB20075414 MLS
Pursuant to the Offer being reviewed we may place the property in the upcoming auction. All bids should be submitted at www.Xome.com (void where prohibited). All auction ...
- 4 Beds
- 3 Baths
- IV20074683 MLS
Silicon Beach Golden Triangle SHORT SALE Opportunity Being Sold AS IS. This home is perfect for the end user that wants to rehab or rebuild, also perfect for developers. ...
- 2 Beds
- 1 Baths
- 20571142 MLS
Shortsale. Subject to lender's approval. Property needs some TLC.
- 3 Beds
- 2 Baths
- SB20070836 MLS
Great single story home in need of TLC with 4 bedrooms, 2 bathrooms and a 7,800SF Lot!
- 4 Beds
- 2 Baths
- 318002203 MLS
This spectacular 120 feet* of ocean frontage property is all about the lot, which is one of the largest on La Costa Beach. The property is a legal duplex with two detache...
- 4 Beds
- 4 Baths
- SR20068292 MLS
Scottsdale Community of town-home style condos. This inside a gated community featuring 3 bedroom 2 baths. The condo is an end unit making it ideal with only one commo...
- 3 Beds
- 2 Baths
- SB19268742 MLS
Short sale subject to lenders approval DO NOT DISTURB TENANT
- 2 Beds
- 2 Baths
- MB18200351 MLS
This 2162 square foot single family home has 5 bedrooms and 2.0 bathrooms. It is located at 11284 Thorson Ave Lynwood, California.
- 5 Beds
- 2 Baths
- PW20059626 MLS
Short Sale. This attractive end unit in the front of the building is waiting for you. Drive in to the underground garage and take the first space, just a short flight of ...
- 2 Beds
- 2 Baths
- SR20055632 MLS
Absolutely charming and well cared for home in the desirable Los Altos neighborhood of Long Beach. The home has a very open floor plan which is light and airy. The livi...
- 3 Beds
- 2 Baths
- OC18220811 MLS
Villa Metro Terra model home in gated community. Two story 3 bedroom 3 bath home in excellent condition. 1 bedroom with 3/4 bath downstairs plus bonus room/den. 2nd level...
- 3 Beds
- 3 Baths
- MB20054359 MLS
A great 4 bedroom 2 bath home in the desirable Covina Hills. The house is on a a flag lot giving it a very private feel. Enjoy the hills and city lights views. Charter...
- 4 Beds
- 2 Baths
- CV20018773 MLS
SHORT SALE: Subject to Bank Approvals. Property needs TLC. Home sit on a large lot over 8,000 SF on a cul de sac. 2 Car attached garage. There is also an attached Stu...
- 4 Beds
- 2 Baths
- 20562506 MLS
Single story 4 bedroom, 2 bath home. with a little over 1,700 sq. ft. Large living room, open concept kitchen that opens up to the family room with a fireplace. Sliding ...
- 4 Beds
- 2 Baths
- SR20051349 MLS
Handyman Special. Bring your tools and imagination and make this house your home.
- 4 Beds
- 2 Baths
- OC20049038 MLS
A beautiful home within a great community in the west side of Lancaster. Six spacious bedrooms, 4 good sizes bathroom, a great pool, move in ready, two story home built i...
- 6 Beds
- 4 Baths
- SR20048478 MLS
First time buyers and investors welcomes you to this cute & lovely home. A walking distance to Diamond plaza,nearby schools, grocery stores, offices, access to freeways. ...
- 2 Beds
- 1 Baths
- DW19235979 MLS
Welcome HOME to this Charming Sunset Ridge in the highly sought after Valencia Northpark with NO MELLO~ROOS & LOW HOAs!! On a CUL-DE-SAC street just steps away from the n...
- 4 Beds
- 3 Baths
- 20560110 MLS
Why buy a condo when you can have a end unit townhome. Secure quiet gated community. Elegant Granite Counter Tops in the Kitchen. Stainless Steel Appliances. Custom made ...
- 2 Beds
- 1 Baths
- 20558352 MLS
Subject to Short Sale Lender's approval. Property is being sold "AS IS".
- 2 Beds
- 2 Baths
- AR20038968 MLS
Short sale subject to lender approval. Fixer - needs a lot of work. As is.
- 3 Beds
- 3 Baths
- 20554578 MLS
4 bedrooms 2 Baths. Needs work.
- 4 Beds
- 2 Baths
- RS20034949 MLS
Cute single story pool home. No Hoa or Mello Roos. "PROPERTY SOLD AS-IS, SELLER WILL MAKE NO REPAIRS"
- 3 Beds
- 2 Baths
- SR19207475 MLS
Welcome to 46 W Pleasant Ave. in North Long Beach. This 3 bedroom 2 bath home sits on a large lot perfect for entertaining or adding extra space with an Accessory Dwellin...
- 3 Beds
- 2 Baths
- PW19131473 MLS
Nice and Quite hill area of City of La Puente has beautiful city lights with views from private deck. Nice and clean, New carpet just installed and ready to move in.Commu...
- 2 Beds
- 1 Baths
- WS20033596 MLS
Short Sale!!!Investor opportunity !!!! One level Duplex features 4 Bedrooms , 2 Full bath , 1585 square feet ,Lot size 5199 , Built in 1924.
- 4 Beds
- 2 Baths
- EV20032395 MLS
condominium for sale 2 bed 2 bad. Unit needs new plumbing, new flooring, new bathroom, new kitchen,
- 2 Beds
- 2 Baths
- SR20031811 MLS
Short sale subject to lender approval
- 2 Beds
- 2 Baths
- CV20030052 MLS
Located secluded at the top of the hill in Stevenson Ranch. 4 Bedrooms and 4 bathrooms. 2 car garage. Has deferred maintenance and needs TLC.
- 4 Beds
- 4 Baths
- SR20028488 MLS
2 Bedrooms - 1, zone LAR2, short sale, property is NOT financeable cash only offers will only be accepted. Addition to the home done without permits, please do not distur...
- 2 Beds
- 1 Baths
- 320000183 MLS
SHORT SALE, PRICE, TERMS AND CONDITION ARE NOT GUARANTEED. COSMETIC FIXER WITH MELLO ROOS Large corner home with open floor plan ready for someone to love it! All bedroom...
- 3 Beds
- 3 Baths
- SR20023205 MLS
Big Beautiful Palmdale Home! Features 5 bedrooms, 3 baths, over 3,100 square feet of living space located on over 8,700 square foot private lot with RV access, 3 car gara...
- 5 Beds
- 3 Baths
- SR20018438 MLS
View, View, View. This Prestigious location in Leona Valley, is off Leona Avenue. This home is a must have, and won't last long. This will be a great opportunity for a bu...
- 4 Beds
- 3 Baths
- 20549160 MLS
Beautiful Verano at Aliento Built by Pardee Homes in 2018. This lovely 2 bedroom, 2 bath, home features 1618 sq. ft. of open living space and many amenities that include ...
- 2 Beds
- 2 Baths
- SR20018399 MLS
Gorgeous Home Nestled into one of Laurel Canyon's Most serene neighborhoods. Modern contemporary 4 Bed and 3.5 Bath Home was built in 2013,A truly entertainer's home.This...
- 4 Beds
- 4 Baths
- 20546592 MLS
Short Sale Approved at $338k & Fully Upgraded! This contemporary 2-bedroom 2-bath is the perfect place to call home. This lovely corner unit includes: Recessed lighting ...
- 2 Beds
- 2 Baths
- 20546542 MLS
Sold As-Is Where Is. This Property is in escrow but we are taking back-up offers. Agents See private Remarks for instructions.
- 1 Baths
- 19533612 MLS
This is a 55+ community, one story with 1 bedroom and 1 bathroom. Nice inviting patio entry. Washer and dryer in unit for easy access. Very comfortable open floor plan. P...
- 1 Beds
- 1 Baths
- 219013916 MLS
Calling all developers, contractors and buyers looking for fixer project in Weho! Spacious 2 bed 3 bath condo in the heart of West Hollywood. The unit is in need of rep...
- 2 Beds
- 3 Baths
- 19525674 MLS
Calling all contractors and investors! Check out this spacious 4 Bed 4 Bath Spanish style Hollywood Hills classic. House needs repairs but there is room for a pool and ...
- 4 Beds
- 4 Baths
- 19518116 MLS
Great Quartz Hill Home! This 5 bedroom, 2.5 bath home features 3560 square feet of open design living space and is located on a nearly 9500 square foot private lot. This ...
- 5 Beds
- 3 Baths
- SR19223228 MLS
Short Sale! Must see. Needs Work. Needs landscaping and cosmetic improvements. Bring your contractors and investors.
- 6 Beds
- 8 Baths
- SR19079263 MLS
Based on information from CARETS as of . The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Address Search
Search Popular Areas
Useful Information
Specialized Searches
