SHORT SALES

Cooper & Associates Realty is Northern California’s #1 Short Sale team. Led by Kevin & Samantha Cooper, The Cooper Team is one of the best, most knowledgeable teams in the Industry including the region’s Top Short Sale Negotiations team. Our team has successfully negotiated and closed short sales on behalf of hundreds of homeowners who faced foreclosure.

In this challenging real estate market homeowners need an expert who knows how to navigate the banks and their constantly changing guidelines and procedures. The Cooper Team works with every major lender throughout the country to gain short sale approval. We have the experience and a proven track record.

Kevin and Samantha realize that every family’s situation is unique and our job is to help our clients navigate the short sale process and be the go between the sellers and the banks. We work to make this process as smooth and possible and to alleviate the stress homeowners facing foreclosure feel. According to the National Association of Realtors 70% of homeowners whose homes have gone to foreclosure never sought professional advice. Don’t let this be you!

SHORT SALE FAQ'S

WHAT IS A SHORT SALE?
Simply put, a Short Sale is used to describe the sale of a home in which the homeowner owes the bank more than the home is worth. The bank agrees to allow the home to be sold for less than what is owed.

WHO BENEFITS FROM THE SHORT SALE?
Short sales are a win-win situation. Lenders, Mortgagees and Realtors all benefit from the successful short sale. Mortgagors get the majority of their money back, Mortgagees get the relief they need and are able to sell their property and avoid foreclosure, and realtors can facilitate the transaction and receive compensation (commission) from the sale of the property.

WHY EXACTLY WOULD A BANK AGREE TO A SHORT SALE?
It is much more cost effective for a bank to do a short sale rather than foreclose on a home. Banks are not interested in owning real estate. Banks make their money from receiving monthly mortgage payments. While banks will take a loss doing a short sale, they can often minimize their loss by as much as 10-40% over a foreclosure.

IS A SHORT SALE A GOOD OPTION FOR ME?
Every situation is different. . . Are you behind on your mortgage payment OR do you anticipate falling behind soon? Is the current value of your home so much less than your loan that staying in your home is no longer a good financial or business decision? Are you facing a hardship?

Hardship can be defined in many ways:

Loss of Income
Increased Expenses
Divorce
Medical Situation
Job Transfer

If you identify with any of these circumstances you are not alone. Many homeowners are facing these very same dilemmas. At Cooper & Associates Realty, we have successfully negotiated and closed short sales on behalf of hundreds of homeowners who may have ultimately faced foreclosure. During our complimentary consultation we will discuss the specifics of your situation to see if a short sale is a good option.

BUT MY HOUSE IS GOING TO FORECLOSURE, WILL I HAVE ENOUGH TIME?
It depends on where you are in the process. Has a Notice of Default (NOD) been filed? Is there a Trustee Sale date? Attempting to short sale your home will not automatically stop a foreclosure. However, many times we can convince a lender to postpone a foreclosure, allowing us sufficient time to negotiate the short sale. There are no guarantees; however, given the benefits of doing a short sale verses foreclosure, it is absolutely worth the attempt.

HOW LONG DOES THE SHORT SALE PROCESS TAKE?
The short sale negotiations process can be a lengthy one. It typically takes 30-60 days to secure a viable offer on a property, and the ensuing negotiations can take 4 months. Getting an approval involves layers of bureaucracy, including dealing with mortgage insurers and working with investors. Patience is important when going through the short sale process.

CONTACT US

For more information and to schedule your free short sale consultation,
please contact us today.
916.960.4850