Short Sale Santa Clara County News: Short Sale Success needs SKILLS, LUCK which will goes beyond just a commission check. We realtors, have the opportunity to help real people with real problems.

The short sale could be a win-win situation for the seller, buyer and seller's lender. When the seller . cannot afford to pay the mortgage, the short sale gives the seller one way out. The buyer can buy it at the short sale home price and the seller's lender can avoid the long process and high cost to maintain the empty property.

I help one Santa Clara seller closed his short sale home about 3 months ago. When we met the Starbucks Coffee house, he did not know what options he would have and none of the other Realtors told him either. He thought he would just walk away house and let it be. When I explained to him all the options he had. He chose the short sale. We found a buyer quickly, the challenge here is the 1st and 2nd mortgages are not at the same lender. The 1st lender only wanted to give a fraction of the 2nd loan. Finally, the 1st and 2nd both lend holders agreed the payoff amount. It is difficult for the investors to accept even the highest and best offer we received today is still much lower then the orginal loans. I have communicated the whole process with the buyer's agent so they were involved our our short sale's up and down. The loan agent helped buyers to repair their credits and shopping around for the best interest rate. We are able to close the transaction before the foreclose process and the bank wrote off the deficiency. This Santa Clara seller is very happy the out come from this short sale.