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:
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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.
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 WEST facing, 1,381 sq.ft. (Permitted - Tax Records are incorrect) 3 bedrooms, 2 bathroom, West Covina home w/LOTS of potential. LOTS OF WORK NEEDED...DO NOT BE FOOL...
- 3 Beds
- 2 Baths
- DW18202176 MLS
None
- 4 Beds
- 2 Baths
- PW19283103 MLS
Short sale subject to lender approval. Fixer - needs a lot of work. As is.
- 3 Beds
- 3 Baths
- 20554578 MLS
COZY HOME LOCATED ON A QUIET CUL-DE-SAC OFF SULTANA.***TEMPLE CITY SCHOOL DISTRICT*** THIS EXCELLENT HOME FOR FIRST TIME BUYER OR INVESTOR.
- 3 Beds
- 2 Baths
- DW20010342 MLS
Greal location. property in need of some work. 4 bedrooms 2 bath 2000+ sqft of living space 2 car garage.
- 4 Beds
- 2 Baths
- DW20037737 MLS
Beautiful 4 bedroom 3 bath Two Story Home! located in a very Quiet neighborhood. House has a formal Living, Large kitchen with tile Counter Top. Beautiful staircase entra...
- 4 Beds
- 3 Baths
- SR20037347 MLS
Two bedroom One bath fixer in Vermont Vista
- 2 Beds
- 1 Baths
- SB19282022 MLS
Short Sale- Price subject to Lender Approval
- 3 Beds
- 3 Baths
- 320000585 MLS
None
- 2 Beds
- 1 Baths
- IV19287282 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
Great location off Burbank Blvd. and walking distance to fine dinning and shopping, 80 score on easy walking. Walmart and Costco shopping centers nearby. Step up front d...
- 2 Beds
- 2 Baths
- OC20034000 MLS
Fantastic View of the city!! Located in a beautiful hills of Diamond Bar; proximity to all major establishment and freeways! This home offers a newly remodeled kitchen, c...
- 4 Beds
- 3 Baths
- SR20034999 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
With its welcoming floorplan, you will be charmed by this single-level Del Prado neighborhood home tucked away in a quaint, family-friendly cul-de-sac. With a lot size of...
- 3 Beds
- 2 Baths
- PW19269181 MLS
Excellent area of Lakewood Manor, great starting property for a new family
- 3 Beds
- 2 Baths
- RS20014415 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
condominium for sale in Los Angeles area, 2 bed 2 bath, needs TLC new bathroom, kitchen, flooring, plumbing issues.
- 2 Beds
- 2 Baths
- SR20033260 MLS
This property is to be submitted at xome website (void where prohibited). All auction properties are subject to a 5% buyer's premium pursuant to the Event Agreement and A...
- 3 Beds
- 1 Baths
- SB19157744 MLS
This home greets you with a charming and well-thought-out floor plan. The house offers plenty of room for just about any one who is looking to entertain or to just enjoy ...
- 3 Beds
- 1 Baths
- TR20032092 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
Great Home for a First Time Buyer. This 2/1 Bath Home is Located close to Freeways and Grocery Stores. Property has also had some upgrades. Shortsale is Approved .
- 2 Beds
- 1 Baths
- IN19219462 MLS
This home has major potential with the right Buyers. This is a fixer upper located close to the 71 and 60 freeway next to all new shopping center. Buyer to satisfy themse...
- 2 Beds
- 1 Baths
- IV19213662 MLS
NICE PROPERTY IN GOOD AREA OF PARAMOUNT, YOU NEED TO SEE IT. PLEASE SEE REMARKS.
- 4 Beds
- 1 Baths
- DW19223490 MLS
condominium for sale 2 bed 2 bad. Unit needs new plumbing, new flooring, new bathroom, new kitchen,
- 2 Beds
- 2 Baths
- SR20031811 MLS
2 Bed Room, 2 Bath. 1038 Sq. Ft of living space with 7,158 Lot Sq. Ft situated near schools and shopping.
- 2 Beds
- 1 Baths
- DW19017641 MLS
Pool Home has been remodeled approx. 2014 seller is having personal issue and need to sell in its as is condition without any repairs nor warranty for any works. The ove...
- 3 Beds
- 2 Baths
- PW19109679 MLS
Beautiful La Verne open single story with nice big backyard over 10,000 Lot perfect for play space, barbecuing and swimming. Kitchen located off of large family room wit...
- 4 Beds
- 2 Baths
- IV19201253 MLS
Short sale subject to lender approval
- 2 Beds
- 2 Baths
- CV20030052 MLS
CHARACTER STARTER HOME ON LARGE CORNER LOT. KITCHEN, HIGH CEILINGS, ENTRY CLOSET, BUILT-INS, TILE FLOORS IN KITCHEN, FLOORING IN DINING AREA, BONUS ROOM MAY BE USED AS 3R...
- 2 Beds
- 1 Baths
- OC19212018 MLS
Great location of a front upper unit located at the front of the complex. Master bedroom with a walk in closet. Wood Laminate floors and recessed lights. Close to the poo...
- 2 Beds
- 1 Baths
- SR20028069 MLS
Cozy 2 Bed 2 Bath townhouse with park views in beautiful the Brookside Walk. Community pool and spa. Attached 2 car garage with stackable laundry in unit. Interior nee...
- 2 Beds
- 2 Baths
- 20550354 MLS
Charming three-unit building. Property needs some minor renovations. Buyer to do all due diligence on subject property. Property is beingsold in its as is conditions.
- SR20026274 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
3 bedroom and 2 bath townhouse in good neighborhood of Winneta.Original Appliances in the kitchen and bathrooms, need update.Living room dining area and kitchen in first ...
- 3 Beds
- 2 Baths
- SR20016693 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
This contemporary 2-bedroom 2-bath is the perfect place to call home. This lovely corner unit includes: Recessed lighting w/ dimmable light switches, Nest Wifi Thermostat...
- 2 Beds
- 2 Baths
- 20546542 MLS
Great location! 4 bedrooms 3 bathrooms home in West Palmdale, bring your tools and save!
- 4 Beds
- 3 Baths
- SR20007355 MLS
This is a wonderful mountainesc view home featuring 2 bedrooms and 2 bathroom in Friendly Valley Country Club (55+) community. Upstairs, through the large private pati...
- 2 Beds
- 2 Baths
- SR20006728 MLS
This Portofino Estates property is a Gorgeous single level View home with 4 Bedrooms & a Private Office that offers the ultimate in convenience with almost 3,000 Sq. Ft. ...
- 4 Beds
- 3 Baths
- SR20004944 MLS
Endless possibilities, all you need is some TLC! Located in Lancaster is this charming single-family home is situated on a 11,998sqft land, featuring 4 bedrooms, 3 bathro...
- 4 Beds
- 3 Baths
- SR20005762 MLS
Opportunity for a investor, property is a tear down. 3 bedroom 2 bathroom with a large lot. We are only taking inquiries by email. PLEASE SEE PRIVATE REMARKS!
- 3 Beds
- 2 Baths
- SR20004471 MLS
None
- 3 Beds
- 2 Baths
- 19536514 MLS
Approved Short Sale! Light Cosmetic Fixer Home In Prestigious Camino Del Lago Community! 3 Bed / 3 Bath. Oversized windows w/ lots of natural light throughout. Living roo...
- 3 Beds
- 3 Baths
- 19539250 MLS
Beautiful 2-Story Home on Cul-De-Sac in Quiet Castaic Residential Neighborhood! Grand entry w/ double height ceiling. Lots of windows & natural light throughout. Large li...
- 4 Beds
- 3 Baths
- 19537356 MLS
Single Story located in the Discovery tract of Valencia. Private courtyard in front and low HOA. Needs lots of TLC!
- 3 Beds
- 2 Baths
- SR19278611 MLS
NO SHOWINGS. The property needs work, its short sale still in progress. All appliances are excluded from the sale.
- 3 Beds
- 3 Baths
- SR19278662 MLS
Sold As-Is Where Is. Do not Under Any Circumstance walk on Property or Disturb Occupants. This Property is in escrow but we are taking back-up offers. Agents See private ...
- 1 Beds
- 1 Baths
- 19533612 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
- 19533038 MLS
Newly Remodeled! This Contemporary Spanish home in one of the most desirable neighborhoods in Sherman Oaks has it all, and is perfect for entertaining. From the moment yo...
- 5 Beds
- 5 Baths
- 19531372 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
This amazing home if full of Energy Efficiency features that will save on the cost of monthly utilities. It has 5 bedrooms with the Master and 2 other bedrooms downstairs...
- 5 Beds
- 3 Baths
- SR19266713 MLS
This is a SHORT SALE,,, perfec for a Investors, 3 bedrooms and 2 bath, this will need a cahs offer for condition of property, near Hwy 14 for easy commuting and near shop...
- 3 Beds
- 2 Baths
- SR19266667 MLS
Enjoy mountain views from your backyard in this 3 Bedroom + 3 Bath home in Valencia. Nicely landscaped Cul De Sac home in NorthPark. Tile and carpeted flooring, wood blin...
- 3 Beds
- 3 Baths
- SR19264467 MLS
Welcome to the Autumn Ridge Community. This townhome features 3 bedrooms 2.5 bathrooms completely detached. Large master bedroom with double door entry, walk in closet, m...
- 3 Beds
- 3 Baths
- SR19264540 MLS
This is a short sale.. Conveniently located near schools and shopping area. Has 3 bedrooms and 2 1/2 bathrooms in a 2 story condominium. Very good opportunity for the inv...
- 3 Beds
- 3 Baths
- 19530040 MLS
*BACK ON THE MARKET FOR FAST SALE* *POSSIBLE SHORT SALE* *GREAT LADERA HEIGHTS OPPORTUNITY* 5 Bedrooms and 4 Bathrooms. Large Living Room and Family Room with a Dual Fire...
- 5 Beds
- 4 Baths
- 19529078 MLS
This is a short sale and all terms and conditions are subject to lien holders' approval. Gated Community Home in Sylmar. 3 bedrooms, 2 bath and a 2 car garage. Agents,...
- 3 Beds
- 2 Baths
- SR19252782 MLS
Welcome to the highly desirable gated community of Los Olivos. This quiet downstairs unit offers 2 bedrooms and 2 baths. The unit does have some deferred maintenance, so ...
- 2 Beds
- 2 Baths
- 19527812 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
Short Sale - Lancaster home near neighborhood schools. This home offers a spacious floor plan with laminated and tile flooring, open kitchen, butler area and family room ...
- 3 Beds
- 3 Baths
- SR19248673 MLS
Tremendous opportunity for a Valencia Westridge 5-bedroom home on a view lot. Gated community. Cul-de-sac street. This Sundance Plan 3 has many upgrades, including wood f...
- 5 Beds
- 3 Baths
- SR19253620 MLS
Huge price adjustment on this Stunning newer home in Ana Verde Hills,(SHORT SALE) four good size bedrooms with three full baths (one bed/bath) downstairs,built in 2018 wi...
- 4 Beds
- 3 Baths
- SR19252470 MLS
MOTIVATED SELLER. This gorgeous remodeled home is in one of the most prime locations in Woodland Hills. The property is located in a quiet cul-de-sac where opportunities ...
- 5 Beds
- 5 Baths
- SR19248249 MLS
Beautiful inside and out 1 story home, on a quiet Cul-de-sac street ready to move in and enjoy this cozy home that shines with upgrades, Granite countertops the in kitche...
- 3 Beds
- 2 Baths
- SR19247953 MLS
Short Sale Great 3-level story house south of Venture with the views of the Valley in Woodland Hills. Living room with fireplace, dining room, kitchen with stainless appl...
- 4 Beds
- 4 Baths
- 19518614 MLS
Shortsale...contingent upon bank approval. Showing with offer and prequalification only. All data per public record, please be sure to do your own due diligence. Property...
- 2 Beds
- 1 Baths
- 19518362 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
Do not disturb tenant. One unit is rented and other unit is owner occupied and will be delivered vacant. New paint and flooring. Front and back yard.
- 6 Beds
- 2 Baths
- 19517992 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
Property needs work, 2BR/2BA town home with a patio and attached garage. Complex offers a community pool and spa. Do not disturb the occupant, showing by appointment only...
- 2 Beds
- 2 Baths
- 19501132 MLS
Attention Developers, Uncompleted single-family project in Mount Washington with unobstructed mountain views. All plan and permit is available.
- 2 Beds
- 2 Baths
- 19497820 MLS
Beautiful 4 Bedroom Home in Quiet Downey Residential Neighborhood! Tile & Hardwood Floors throughout. Formal dining area. Spacious backyard w/ covered patio & grassy area...
- 4 Beds
- 2 Baths
- 19492260 MLS
***FIXER*** Handyman special. With vision this can become your next home.
- 3 Beds
- 2 Baths
- 219007356 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.
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