Buying a Short Sale How To Buy An REO Why Buy REO? REO Buying Tips Strategic Home Buying Service Plan Dream Home Finder First Time Homebuyers New Homes For Sale HomeBuying 101

THINKING ABOUT BUYING A HOME? . . . . . . . . . . ASK US ABOUT FORECLOSURES, SHORT SALES & REOS . . . . . . . . . . FIND OUT HOW TO BUY AN REO? . . . . . . . . . . FIND OUT ABOUT THE ADVANTAGES AND DISADVANTAGES OF BUYING A SHORT SALE . . . . . . . . . .

Don’t get yourself tied up in a short sale contract that can drag on for months, costing you precious time and hard earned money!

The key to avoiding the pitfalls and traps that plague many home buyers today comes down to one thing: Knowledge . . .

KNOWLEDGE IS POWER!

Find Out Exactly What A Short Sale Is And Discover Some of The Pros and Cons

A Short Sale is typically executed to prevent a Seller from foreclosure. A Short Sale is the sale of a home in which the proceeds from the sale fall short of the balance owed by the borrower on the existing loan secured by the property being sold. The lender agrees to discount the loan balance to current market value often due to an economic or financial hardship on the part of the borrower.

Extenuating circumstances usually related to the current real estate market and the borrower's financial situation influence whether or not the lender will approve the Short Sale. Negotiations for the Short Sale is done through communication with a bank's loss mitigation or workout department. Based on the information and documentation the Seller provides, the lender has the right to approve or disapprove a proposed sale. If the Short Sale is approved, the Seller sells the property for less than the outstanding balance of the loan and turns over the proceeds of the sale to the lender in full satisfaction of the debt.

What are the most common Advantages and Disadvantages of a Short Sale?

Most banks will allow a Short Sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantage is avoidance of a foreclosure on their credit history. For a buyer, the advantage is the property has probably been listed lower than market value to entice a fast sale giving the buyer the ability to buy the property at a deep discounted amount.

Disadvantage: It can take time for even an experienced Realtor to push a short sale through. But if the Seller has an inexperienced Realtor, the wait can go on indefinitely often resulting in the property going to Foreclosure after tying an unsuccessful buyer up for months.

So Why Call Us?: As a previous Asset Manager, our Team Lead has a working knowledge of Corporate Policies, Procedures and Practices.

Call us and benefit from the hands on Corporate experience and knowledge that our team has gained by having the unique advantage of being exposed to this dynamic industry from both sides of the perspective . . . As an REO Asset Manager and as REO Listing Agents.

EXPERIENCE Doesn't Cost;
It PAYS!

Find Out More About Our Strategic Home Buying Service Plan

LOOKING FOR FORECLOSURES, SHORT SALES & REOs in Southern California's Los Angeles, San Bernardino, Riverside County's Inland Empire and the surrounding foothill communities of Rancho Cucamonga, Victoria Gardens, Ontario, Ontario Mills, Pomona, Chino Hills, Upland, Fontana, Rialto, Victorville, Riverside, Corona, Mira Loma, Murrieta, Moreno Valley and Perris.

Call us and all the benefits of our knowledge and experience are yours!

"I wanted a place of my own…someplace I could call home without worrying about the rent going up or how noisy the neighbors would be, moving into the vacancy above me. I was ready for ROOTS. Mykel helped me find them. She showed me what I could afford, and some creative ways to afford it. I'm now in my very own home for the first time ever! As I look around, I'm so happy to see my couch in my new living room, my big screen TV in my family room and my son playing in his very own backyard. Now when I come home, I'm really Home. I can't say Thank You enough Mykel, for making it all possible!"

- V. Martinez

One More Reason To Let Tri County Residential Group

Be Your Trusted Real Estate Advisor!

Tri County Residential Group
7828 N. Haven Ave • Rancho Cucamonga, CA 91730
Office: (909) 476-9600 •

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