Laguna Beach Short Sales  

Laguna Beach Short Sale Information | Short Sale Your Laguna Beach Home 


How to Short Sale Your Laguna Beach Home 

Laguna Beach's inventory of short sale properties is starting to increase due to the current decline in the prices of real estate here in Laguna Beach and the inability to re-finance out of current high mortgage payments.  A short sale is a solution for homeowners to relieve themselves of missed mortgage payments and save their credit without letting the home go into foreclosure.  There are a lot of questions involved with a short sale and most consumers are not aware of the various nuances involved in short selling their home.  Working with a skilled short sale realtor is the key to a successful short sale transaction.  A lot of sellers work with agents that don't understand the short sale process and soon realize that their short sale has been rejected or they let the home go into foreclosure.  This is the last thing you want to happen after spending time and money while having your home on the market.

Our goal here at Beach Cities Real Estate is to inform the consumer with all the information on short selling their home so they can make an education judgement if short selling their home is the best decision.   A short sale is similar to a traditional sale where a realtor comes out to your home to give you an idea of what your home is worth and what it well sell for in the current marketplace.  It's important that correct comparable's are used since the banks will require proof of comparable properties when you submit for a short sale approval.  The home is put on the market, as other homes are on the market, and defined as a short sale that is subject to the lenders final approval of price and terms.  Be prepared to have a lot of agents and buyers come through your home.  Short Sale listings are very popular since buyers believe they are getting a "good deal" when a new short sale comes on the market.  The good news about short sales is that you will typically receive an offer in a short manner of time which will then cause the showings to go down.  We also recommend our clients show their home in the very best light for the first couple of weeks when the majority of showings will take place.

Once an offer is received then we submit a package to both the first and second trust deed holder.   Homes that only have a first trust deed and not a second trust deed are typically easier to process and quicker to get approved.  Also, a first and second trust deed that is held by the same bank is also typically easier to process and quicker to get an approval.  Also, we are seeing banks moving quicker on short sales in the last 6 months.  Short Sales are becoming more commonplace now so banks have a system in place to move the short sale process along much faster than in years past.   Short Sales can still take up to six months with the average short sale process being about 3 months.  If you have been thinking about short selling your home you will need several documents to prove your hardship.  Below are the following documents that will be needed to submit your short sale packet to the bank:

  • Fully executed and signed purchase agreement signed by both buyer and seller
  • Hardship Letter prepared by the homeowner (we have sample letters)
  • Profit and Loss Statement
  • 2 Months worth of bank statements
  • Copy of the MLS Listing Agreement
  • Comparative Market Analysis (CMA) of your home.
  • Detailed information on comparable properties from your CMA.

This first step is to contact one of our Laguna Beach Real Estate agents at 949-388-3685 to view your home.  We will discuss with you if we think you are a good candidate for a short sale.   We use a professional short sale negotiation team to quickly get you an approval on your short sale.  We are the short sale experts for Laguna Beach and have a strong record for successful short sale transactions.  For more information on Laguna Beach Short Sales and how to sell your Laguna Beach home please contact us today at 949-388-3685.  For information on currently listed short sale and foreclosure properties currently for sale in Laguna Beach visit our Laguna Beach Short Sale & Foreclosure page.  We also have many testimonials of satisfied clients who have sold their home through us as a short sale.  Below is a sample testimonial of a short sale client that used our services:

I just wanted to say that the team at Beach Cities did a phenomenal job with the deal that we just closed! I really appreciated their dedication to getting this deal done in a timely manner, and their dedication to their clients.

If you are thinking about doing a short sale please contact us today for a free market evaluation of your home.  There are no obligations as we will see if you are a good candidate for a short sale.  Keep in mind that not all applicants will qualify for a short sale.  We will be honest and let you know if you qualify and what are the next steps you should take.  It's important to work with a short sale agent in Laguna Beach that knows the local market and understands the nuances of a short sale.  Please contact us today at 949-388-3685 today.



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