A short sale refers to a sale of a property in which the funds received from the sale do not cover the outstanding liens on the property.  Our job as agents is to market your property to receive the highest possible offer for purchase, while also negotiating with your lender(s) on your behalf to accept a loss on the property.  In more cases than not, it is better to show good faith and try to sell your home in a short sale than to let the property go to foreclosure.
 
Banks are beginning to steamline their short sale processes and have become better at approving properly packaged proposals for sale.  It is imperative, however, to list your home for sale with an agent who is knowledgeable about the short sale process.  It can mean the difference between selling the home or being foreclosed upon.
 
It is imperative, if you have received a Notice of Default from your lender, or if you have reason to believe you will default on your loan in the future, to get in contact with your lender right away.  You will want to know your options, learn what is the best process for you, and begin to gather the paperwork necessary to make your case. 
 
It would be our pleasure to discuss the fine points of the short sale process with you and review some of your options and take the path of least impact on your credit. 
Adams & Associates
La Jolla, Del Mar, Rancho Santa Fe, San Diego Homes
Coldwell Banker - La Jolla Branch
Bus: (858) 456-3256 | Fax: (858) 729-0652
Office: 930 Prospect Street La Jolla CA 92037
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