Short Sale Process

Assume that your home is under water. A Short Sale Process includes:

Step 1: Find a California Licensed REALTORS®
In California, you have to use a licensed REALTORS®  to do a short sale. Realtheon is licensed REALTORS® / Broker, can negotiate with your lenders and does short sales at no cost to you.

Step 2: Determine If You Qualify for a Short Sale.
The main qualification for a short sale is that you owe more on your home loan than what your home is worth. Secondly, you have a financial hardship. (Many lenders have dropped the required hardship explanation, however.) Third, you could be eligible for the HAFA - Home Affordable Foreclosure Alternatives - program.

Step 3: Obtain Required Documents
Lenders require specific documents. Usually a Hardship Letter is the first required document, which explains why a borrower can no longer pay their monthly mortgage payments. The required documents are gathered and sent as a package to the lender. Financial hardship may include many things, such as: Loss of employment or reduced work hours. Major illness or medical expenses. Divorce. Increased bills. Higher living expenses. Investment loss.

Step 4: Market the Property
Your home is marketed to potential buyers. You can live in the home while it is being marketed.

Step 5: Negotiate the Short Sale
Once there is an offer on your house, we submit the offer to the lender and negotiate the deal for you. A good offer is the one that is close to the appraised value of your house. Negotiations can be tedious and time consuming. It’s good to continue to market your house and get backup offers. If your first offer wasn’t high enough, the lender will ask for a higher offer.

Step 6: Finish the Transaction
If an offer is good and your lender accepted it, the next step is to open an escrow and close the transaction.

You are done !

Click Short Sale Information And Advisory for California short sales advisory.


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Realtheon / 5A Mortgage
167 N. White Rd. • San Jose, CA 95127
Tel +1.408.923.8951 • Cel +1.408.835.8811
DRE # 01356627. NMLS # 445911, 451705

San Jose, Silicon ValleyMilpitasCampbell, Cupertino

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