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Below are general tips prepared by the CALIFORNIA ASSOCIATION OF REALTORS®.  However, these just skim the surface of information available through your REALTOR®.  As a member of C.A.R. your REALTOR® has access to this information in its entirety, and much more! 

 

SHORT SALE SELLERS

 

1. Hire a REALTOR®!
Not all real estate agents are REALTORS®.  REALTORS® are members of the NATIONAL ASSOCIATION OF REALTORS® and voluntarily pledge to abide by the strict code of professional ethics.

2.Take a Proactive Approach
The short sale process can take a lot of time and effort on your part, so taking a proactive approach to your short sale may help you complete the transaction as quickly and painlessly as you can.

3. Knowledge is Your Friend
The short sale process may be new to many sellers and is much different than a normal transaction.  It is important to know what you are getting yourself into.

4. Do Your Homework
As early as you possible, determine your lender’s short sale requirements and whether you satisfy those requirements.

5. Get a Good Price For Your Home
Getting a good sales price not only improves your chances of getting your short sale approved, but may also have other advantages.

6. Submit a Complete Short Sale Package
Provide your lender with a complete short sale package containing all the required information and documentation in an organized manner.

7.  Be Patient But Persistent

8.  Avoid Scam Artists
Be wary of scams.  Your REALTOR® will help you avoid getting duped.

 

SHORT SALE BUYERS

 

1. Hire A REALTOR®!
Not all real estate agents are REALTORS®.  REALTORS® are members of the NATIONAL ASSOCIATION OF REALTORS® and voluntarily pledge to abide by the strict code of professional ethics.

2. Knowledge is Your Friend
The short sale process may be new to many buyers and is much different than a normal transaction.  It is important to know what you are getting yourself into.

3. Do Your Homework
Gather and review as much information about a transaction as you can before writing an offer to purchase.  Your REALTOR® can help you identify which properties for sale in the Multiple Listings Service are short sales.

4.  Write A Clean Offer
This describes an offer to purchase that the seller is unlikely to take issue with.

5.  Understanding the Timing
A short sale may take a long time and it is important to understand the timing of the process.

6.  Prep as Best as You Can

7. Manage Your Expectations About the Property

8. Don’t Lose Sight of the Big Picture

 

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