Huntington Beach Short Sale Expert success story

Short Sales News Flash – Huntington Beach, California: Statistics gathered from the Orange County Multiple Listing Service (MLS), show that only 39% of all Short Sale properties listed for sale in Huntington Beach in the past 6 months, actually sold and closed Escrow.   The local team of experts at the ShortSalesASAP Group, has closed over 93% of their short sales in the past 12 months.   In addition, the California Association of Realtors recently reported that only about 19% of all Short Sales actually sell and close escrow statewide in California. Why is the failure rate so high you may ask ? … the reasons are many as we will outline below.

A Short Sale is the most complicated of all of the residential real estate transactions. These transactions present a wide variety of obstacles that can easily trip up an inexperienced Realtor who may be a Short Sale novice. Some of the most common problems that may cause many Huntington Beach Real Estate Agents to fail are at a Short Sale are; 1.) lack of planning to avoid common problems, 2.) inexperience that prevents foresee predictable issues, 3.) weak loss mitigation negotiation skills, and 4.) having too small of a team causing a Realtor to be spread to thin.

Here are some of the more common booby traps that can cause an inexperienced Listing Agent to fail in a Short Sale;

A. – Listing Agent does not keep in constant communication with the buyers agent and buyer. Due to the sometimes long escrow process, the Buyer looses hope and cancels escrow.

B. – Listing Agent sets the price to low to obtain a quick sale. Months later, the mortgage Banks management  reviews the purchase offer price compared to the appraised value, and tosses out the “low ball” offer.

C. – Listing Agent setting price too high, which results in no one showing the property, no offers, and then the Banks get impatient and may cancel the Short Sale process.

D. – Listing Agent running one person band. There are simply too many details to manage for a single individual or 2 person team to handle correctly.

E. – Hiring the services of a 3rd party short sale negotiation company. Many of these 3rd party Short Sale negotiation companies operate nationwide, and don’t have the local commitment and follow through that we do. They often collect part of their fee upfront whether the Short Sale closes or not.

F. – Listing Agent not knowing how to correctly package the Seller Short Sale documents in order to achieve success.

G. – Listing Agent not overseeing the independent short sale Bank Appraisal process. If the value comes too high, this can sometimes kill the deal, or cause substantial delays.

H. – The 1st and 2nd Mortgage Bank don’t agree on the amount of the discounted pay-off to the 2nd short sale Bank. The Listing agent doesn’t know what to do next, and the deal dies.

I. – The 2nd Mortgage is a HELOC loan, and they agree to the short sale, but they refuse to release the homeowner from unpaid debt. Seller says No and the short sale dies. We most always get the HELOC debt removed or at the very least, get it highly reduced.

Our Team of Local Orange County Experts of the ShortSalesASAP Group makes sure that none of the traps outlined above happen to you if you should decide to do a Short Sale.  Here are the benefits and some of our accomplishments in working with us:

• - Over a 93% Short Sale Closing Rate.
• - Local Orange County Experts with a Verifiable Track Record of Success.
• - Our Services are FREE to you for we Negotiate our Fee with the Banks.
• - We are Attorney Backed.
• - Most often we get 2nd TD HELOC debt deleted or highly reduced.
• - Can many times Negotiate a “Cash for Short Sale Cooperation” fee for the Seller.
• - Associate Credit Restoration Firm which can often re-establish credit in less than a year.
• - Stop Foreclosure and live in the home Rent Free dependent upon Hardship.
• - Eliminate all back Property Taxes.

If you have any questions, or concerns regarding today’s Mortgage Loan Crisis, please feel free to contact us at:  Info@ShortSalesASAP.com or call us Toll FREE at:  (888) 201-7066 … Any conversations will be held in our strict confidence.