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Newport Beach CA Real Estate - The Truth About Short Sales

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Short sale is something that a lot of people are doing whenever their property is about to be foreclosed, and you need to know a lot of things about it if you want to be successful with it. There are …

Short sale is something that a lot of people are doing whenever their property is about to be foreclosed, and you need to know a lot of things about it if you want to be successful with it. There are a lot of people who are having problems whenever they get into short sales simply because they are not aware of the things that they can expect from it

For more information on Newport Beach real estate please visit my site at http://www.GabeColeRealEstate.com/

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  • 1. Brought to you by :www.GabeColeRealEstate.com
  • 2. Newport Beach CA Real Estate - The Truth About Short Sales Short sale is something that a lot of people aredoing whenever their property is about to beforeclosed, and you need to know a lot of thingsabout it if you want to be successful with it.There are a lot of people who are having problemswhenever they get into short sales simply becausethey are not aware of the things that they canexpect from it www.GabeColeRealEstate.com
  • 3. Newport Beach CA Real Estate - The Truth About Short Sales It would be better if you are going to get the help ofa real estate agent or a realtor, because this willincrease your chances of being successful with it.Buyers DilemmaAll of us would want to purchase something that isbelow the real price of a property. www.GabeColeRealEstate.com
  • 4. Newport Beach CA Real Estate - The Truth About Short Sales However, there are some buyers who are in ahurry, and short sales will take about 6 months tocomplete.If a buyer is in a hurry to have the propertytransferred to their name, then they wont have anyother choice but to go for a more expensiveproperty. www.GabeColeRealEstate.com
  • 5. Newport Beach CA Real Estate - The Truth About Short Sales This is the reason why there are only a few peoplewho are showing interest with short saleproperties.Real Estate Agents InterestsA real estate agent gets a commission for everysuccessful sale. They are getting anywhere from 6%up to 10% of the total price. www.GabeColeRealEstate.com
  • 6. Newport Beach CA Real Estate - The Truth About Short Sales However, if you are going to do a short sale, thereal estate agent will be receiving less commissionfor it. Since they are going to do the same task, orprobably even more, since it is a short sale, theyfeel that they should receive the same amount forthe sale.There are agents who would prefer not to show thelist of short sales at all, and would simply focus onpromoting ordinary properties. www.GabeColeRealEstate.com
  • 7. Newport Beach CA Real Estate - The Truth About Short Sales Sellers FeesIf you are going to enter a short sale, you will beasked to settle a fee in order to cover the deficiencyof the lender.Some of them would ask thousands of dollars thatis payable for the next few years. www.GabeColeRealEstate.com
  • 8. Newport Beach CA Real Estate - The Truth About Short Sales Since sellers who are entering short sales arealready in huge financial difficulty, why would youeven dare to pay more fees?This is the reason why there are sellers who prefernot to continue with the sale, and simply allowtheir property to be foreclosed. www.GabeColeRealEstate.com
  • 9. Newport Beach CA Real Estate - The Truth About Short Sales Lenders AppraisalA lender should approve the short sale before youcan even continue with it. www.GabeColeRealEstate.com
  • 10. Newport Beach CA Real Estate - The Truth About Short Sales The problem with some lenders is that they aretrying to verify it by sending an appraiser to theproperty and estimate its value.If the lender found out that the property is beingsold for a price that is lower than the value of theproperty, some of them would not approve thesale, and will simply wait for it to be foreclosed. www.GabeColeRealEstate.com
  • 11. Newport Beach CA Real Estate - The Truth About Short Sales Get all the information that you need to knowabout Newport Beach CA real estate by checkingour website now.We will not only provide you with all theproperties that are perfect for your needs and yourbudget, but also help you get all the informationthat you need to know about the real estateNewport Beach CA. www.GabeColeRealEstate.com
  • 12. Brought to you by :www.GabeColeRealEstate.com