Short sale negotiation

A short sale is a sale of property when the borrower is in distressed circumstances because of the inability to keep up with mortgage repayments. A short sale is a last resort of a borrower to avoid a foreclosure. Though the lender loses money in a short sale, it is often a preferable alternative as the process is quick and cuts further losses and delays that are associated with the legalities of a foreclosure. Even if lenders have many short sales on their books, the procedure is often daunting for the buyer of the property.

Negotiations start at the ‘Loss Mitigation Department’ of the lender and entails offers and counter offers. A host of documents are involved, which require to be carefully scrutinized. The lender will also wish to see a written contract between the seller and proposed buyer to ensure that the seller stands to gain nothing from the deal.

Dale Warfel, Short Sale Professional

Dale Warfel is a real estate professional whose area is the neighborhoods of San Jose. He is a seasoned realtor who has been buying and selling San Jose homes for nearly 13 years. Dale Warfel is a Certified Short Sale Professional (CSP) and a skilled negotiator, experienced in the thrust and parry of short sale negotiations. Do visit his website at www.dalewarfel.com to know more about his activities. Dale Warfel can relieve you of the frustrations associated with a short sale purchase. He can be contacted at 408.624.6202.