With short sales predicted to increase as a viable alternative to foreclosure, Costa Mesa Short Sales blog, powered by Torelli Realty, will provide the latest, up-to-date short sales listings in Costa Mesa and throughout Orange County. This website provides helpful information about short sale transactions. As short sale experts, Torelli Realty is available to answer any questions and will negotiate all short sales from beginning to completion, without the need for a middleman.
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The idea of a short sale is scary and yet it is reality for many people in the current real estate market. We understand the trials and issues that you are facing when dealing with a short sale and our company is here to help you through the process.
Even though short sales are much more common today, the truth is that they have been an option for years. Given the current state of the real estate market, more and more people are finding themselves in situations where a short sale is necessary.
What is a short sale?
A short sale is when the bank agrees to the sale of a home for less than the amount owed on the loan in an attempt to avoid foreclosing on a homeowner who is in distress.
Our team at Torelli Realty has the experience you need to help you during your short sale process. Click here to see some of our latest short sale listings. Our short sale experts know how to work with the banks and stall the foreclosure process so that you have a chance to avoid foreclosure and take advantage of the short sale process.
Our aim is to help families during this difficult time and make the short sale process as easy and comfortable as possible by being respectful, and compassionate.
During the short sale process, distressed homeowners have the opportunity to remain in their home rather than facing eviction, gaining them extra time to remain in their home. Click here to read about some of the other benefits available to those who do a short sale rather than a foreclosure.
In an effort to help you sell your home quickly, we will market your home fiercely to get it sold. Our goal is find you reasonable offers that will satisfy the lender and get you through the real estate process.
We have processed dozens of short sales and every short sale we have executed has gone through to date. Since we have been engaged in real estate since 1984, we understand the procedures of the institutions and the emotions behind every deal. Our real estate agents have been involved in over 2,000 real estate transactions since the 1980s. We have seen the market in the best of times and the worst of times and KNOW how to handle real estate situations.
Allow our top short sale experts to aid you in your journey to real estate freedom. Let us help you salvage your credit, buy you time to remain in your home, and save you from foreclosure.
Consider your options:
-Make backup payments before the house goes to auction. If your home is worth less than it was when you bought it, making these payments is putting you deeper in the hole.
-Filing bankruptcy. We do not advocate filing bankruptcy because bankruptcy plus a foreclosure on your record will severely harm your credit for at least 7 years.
-Doing nothing. This will result in foreclosure. You can read more about the negative impacts of a short sale here and is not something we would advise.
-Contact us. Allow our short sale experts to stall the foreclosure process, save your credit, keep you in your home (during the short sale process) and much more. Our real estate experts care about you and are ready to help you negotiate with your bank. We will hold your hand through the process.
To qualify for a short sale you need to provide proof of financial hardship and have an offer from a qualified buyer to purchase your home.
See the financial hardship qualifications here.
The real estate market is projected to continue falling through 2012 so most properties bought after 2003 are subject to being classified as distressed properties. If you are in danger of falling behind, let our short sale experts help you move forward.
We sell the most homes in Costa Mesa, CA and have contacts with buyers throughout Orange County who are waiting for opportunities to buy and with our top marketing skills we excel in finding qualified buyers and placing them in homes.
Empower yourself and let us help you with your real estate issues. We’ll alleviate the stress of dealing with banks and lenders who do not care about the clients and the homes they live in. Allow us to service your needs – we WORK for you and DO all the work for you.
Are you skeptical? We understand so if you have any fears or curiosities or needs feel free to call us and witness for yourself the professional and personal service we are able to provide. Our former clients have been overwhelmingly grateful for our services.
Our short sale experts know the effective ways to communicate directly with banks and lenders. We’ve been at it for years and at a time when distressed homeowners are in more trouble than ever, we’re here to support and strengthen homeowners. Owning a home is a dream and we want to end the nightmare it has become for so many.
For more information please call us at 714-540-7355 for useful information or contact us here.
Frequently Asked Questions:
What is a short sale?
A short sale is when the bank agrees to the sale of a home for less than the amount owed on the loan in an attempt to avoid foreclosing on a homeowner who is in distress.
How long will a short sale take?
The short sale process can be lengthy. In general it takes longer than a normal real estate transaction although new government regulations are helping to speed up the process. Realistically be prepared for many weeks or even months. We will do everything we can to make the process progress as quickly as possible. During this time the homeowner can remain in their home.
Can I stay in my house during the short sale process?
Yes.
My house is scheduled to go to foreclosure… Is it too late?
Our trained team of short sale professionals has 100% success with stopping foreclosures so that we can negotiate a short sale for you.
Do I need to pay past due property taxes?
When the short sale closes, the lender will settle the past due property taxes. It’s important to document all the closing costs on a HUD-1 form, which the lender needs to approve before the short sale transaction closes. The lender may cover the delinquent property taxes.
Will a short sale have an impact on my taxes?
Per “The Mortgage Foregiveness Debt Relief Act of 2007” California Homeowners have a 3 year window to avoid paying taxes on the amount of loss that the lender takes on your mortgage debt. Therefore if you sell your home as a short sale by December 31, 2010, you will not be responsible for the “taxable income” you would normally be responsible for as a result of the lender covering your loss.
Who pays Torelli Realty for their short sale services?
The bank or lender is responsible, not you.
