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
Short Sale! Iron fence, needs TLC but it's got potential!
- 3 Beds
- 2 Baths
- RS20067178 MLS
Its a 4 bed 3 bath with 2655 FT in the area called Porter Ranch that has had the gas leak from the storage facility. Also the fires were near this area. Broker does not k...
- 4 Beds
- 3 Baths
- SR19276668 MLS
House Hunting? Bag this trophy! Stretch out Relax! Enjoy life more in this elegant 2 story home. Property features 4 bedrooms + 3 bathrooms, spacious living room for all ...
- 4 Beds
- 3 Baths
- SR19254855 MLS
Great Investment opportunity. 3 bedroom 2 bath house; needs lots of work. Buyer to complete their own due diligence.
- 2 Beds
- 1 Baths
- PW20066498 MLS
Charming Bungalow is located in the city of Artesia and is perfect for the first-time homeowner or as an investment property. This home consists of 2 bedrooms, 1 bathroom...
- 2 Beds
- 1 Baths
- OC19282862 MLS
This secluded home and large lot are located in a hilly neighborhood and features two detached dwellings and a large detached garage with loft. The property received dam...
- 2 Beds
- 2 Baths
- SB19227716 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
Please refer to state and local COVID-19 guidelines~~~~ALL TERMS & CONDITIONS ARE SUBJECT TO LENDER(S) FINAL SHORT-SALE APPROVAL. ~~~BROKERAGE FIRM & SELLER MAKES NO REPR...
- 2 Beds
- 1 Baths
- MB20063948 MLS
Come see Corner home on a quiet neighborhood with lots of Potential. Across street from Elementary School. Home with 2 Bedrooms 2 bath, Den with Fireplace and Family roo...
- 2 Beds
- 2 Baths
- PI19257190 MLS
BOM Buyers backed out. Excellent Location! Fixer House 2 bedrooms 2 bathrooms. Just needs the right owner ready to renovate. Original hardwood floors throughout. Detached...
- 2 Beds
- 2 Baths
- OC19281904 MLS
Unique opportunity to own a 2 bed/2 bath townhouse in a gated community of Hidden Valley at Phillips Ranch. Walk into a cozy kitchen with custom cabinets that have plent...
- 2 Beds
- 2 Baths
- PW20063620 MLS
SHORT SALE APPROVED BY THE BANK! Buyers canceled the day before closing of escrow. Very well maintained condo. This two bedroom condo will not last! Sellers are ready to ...
- 2 Beds
- 2 Baths
- CV20063464 MLS
Short sale subject to lenders approval DO NOT DISTURB TENANT
- 2 Beds
- 2 Baths
- MB18200351 MLS
Looking for ***POOL HOME*** in Whittier? This THREE bedroom, TWO bath home is situated on a cul-de-sac street. It consist of laminate wood flooring, a large living room, ...
- 3 Beds
- 2 Baths
- DW20008525 MLS
Charming 3 bedroom bungalow-style home on a shady, tree-lined street in San Pedro. The home features a large living room and kitchen. There is also a large back yard, a...
- 3 Beds
- 1 Baths
- OC19210263 MLS
***THIS SHORT SALE HAS BEEN APPROVED BY THE BANK AND IS AVAILABLE TO CLOSE IMMEDIATELY*** This is a Short Sale perfect for the family willing to put in a little work t...
- 4 Beds
- 3 Baths
- SB19259269 MLS
Located North of the Blvd. Pubic records reflects 4 bed and 1 bath, used as 4 + 3, good sized lot & needs the right buyer with vision to provide some TLC. Sold in its, "A...
- 4 Beds
- 1 Baths
- 20566152 MLS
This is a beautiful single family residence in the city of Lakewood, CA. It has 3 bedrooms and 2 full baths. It has an attached garage and a beautiful front yard. The hou...
- 3 Beds
- 2 Baths
- PW20058462 MLS
Property is a 2 bed 1 bath located in the Arleta area. This is a short sale, all conditions are subject to lender approval. Property has an enclosed patio that appears to...
- 2 Beds
- 1 Baths
- SB19175805 MLS
2 Bedroom 2.5 Bath Gated Community Situated in the city of Covina. This property includes an attached 2 car garage, a patio area, and a pool in the community. Centrally l...
- 2 Beds
- 3 Baths
- TR19238019 MLS
Nice home with lots of potential>Must Sell! Property is Subject to Short Sale approval. Please, Cash offers only. Virtual Tour https://my.matterport.com/show/?m=a5rM6...
- 3 Beds
- 2 Baths
- PW20057947 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
Pending Short Sale Bank approval... Seller has made several attempts to negotiate loan modification with bank, but failed due to financial hardship. Please do not disturb...
- 3 Beds
- 2 Baths
- DW20054829 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
SHORT SALE NEEDS BANK APPROVAL. Perfect starter home in the wonderful city of Pomona. Centrally located near schools, parks, shopping centers, and 60/10/57/71 freeways....
- 3 Beds
- 2 Baths
- CV20053680 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
Investor's delight come and get it! Property needs work and is waiting for the right buyer... Perfect for a flip. Property is not short sale approved it will take 6 to...
- 2 Beds
- 2 Baths
- DW20006522 MLS
Welcome to this lovely 1,732 square foot, updated Encino Park home, which features 3 bedrooms, 2 bathrooms, hardwood floors, central air and heat and recessed lighting. ...
- 3 Beds
- 2 Baths
- SR20054584 MLS
Just in time for Summer! Entertainer's delight, move-in ready corner lot with a pool! Beautiful, single level 3 bedroom 2 bath home with a bonus room, great as a 4th bed...
- 3 Beds
- 2 Baths
- PW20053833 MLS
2 BEDROOM 3 BATH WITH 1754 SQFT NEED WORK. BANK APPROVED $650,000 AS IS .
- 2 Beds
- 3 Baths
- SB19146238 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
House in Downey short sale needs work roof, heater and update master bathroom, kitchen with granite counter top, and tile floors, master bedroom,
- 3 Beds
- 2 Baths
- DW19242773 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
This must-see home is waiting for a dash of your imagination and some TLC. Situated on the corner lot of a charming Northridge neighborhood, this 3 bedroom, 2 bathroom ho...
- 3 Beds
- 2 Baths
- SB20046792 MLS
First time buyers and investors welcomes you to this cute & lovely home. A walking distance to Diamond plaza,nearby grocery stores, offices, access to freeways. This home...
- 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
Great opportunity for first time buyer or investor.. This 3+2 bedrooms is located in a great neighborhood of palmdale east.
- 3 Beds
- 3 Baths
- SR20016231 MLS
Property sale contingent on Bank Approval of short sale transaction and agent compensation. Garage conversion with no building permits available.
- 4 Beds
- 2 Baths
- CV20019051 MLS
Two story single family with 4 bedrooms and 3 bath rooms. Located in the nice area of Huntington Part. Close to pacific ave. shopping center and restaurants.
- 4 Beds
- 3 Baths
- RS20016686 MLS
This is a short Sale , Gorgeous home in a exclusive community in Santa Clarita , home offer 3 Bedrooms 3 baths , spacious big loft upstairs , big master bedroom include w...
- 3 Beds
- 3 Baths
- SR20036284 MLS
Short Sale- Subject lender approval! all fees, closing cost, commissions are subjects to lender approval. Sold as is no warranties/guarantees made. Gorgeous home and read...
- 5 Beds
- 3 Baths
- SR20018575 MLS
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. Full appraisal performed on J...
- 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
Short-sale accepted for $540,000. Current Buyers change their mind. Back in the market!. Corner house with big lot. Needs upgrades. Convenient location. Close to sch...
- 3 Beds
- 2 Baths
- CV19284949 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
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
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
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
A great opportunity awaits! Located on a corner lot over 16,000+ sqft., this home features a formal living room, formal dining room, and family room. Home also features...
- 4 Beds
- 3 Baths
- OC18270412 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
Commercial Zone property. Move in ready with open floor plan and a lots of amenities. Solar panels output is 12,000 kWh of energy per year. The monthly transfer cost i...
- 3 Beds
- 2 Baths
- CV19270760 MLS
Single level home in La Puente next in the Hacienda School District. Open Floor-Plan offering 4 Large Bedrooms and 3 Bathrooms, Front yard and Backyard with a gorgeous po...
- 4 Beds
- 3 Baths
- DW19076985 MLS
condominium for sale 2 bed 2 bad. Unit needs new plumbing, new flooring, new bathroom, new kitchen,
- 2 Beds
- 2 Baths
- SR20031811 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
Fabulous English Tudor. This home has personality plus and has been lovingly maintained by the same family for more than 50 years, is located in highly regarded, north Mo...
- 3 Beds
- 3 Baths
- AR19010627 MLS
PROPERTY NEEDS WORK .... MUST SEE GREAT FOR FIRST TIME BUYERS.
- 3 Beds
- 2 Baths
- PW20028455 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
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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