If you think that today is the best time to go house hunting and find bargains in San Diego, CA, you might already be looking to buy a short sale home in the region. A short sale is when a property is being sold for a price that is lower than the balance of the mortgage. Many homeowners are doing a short sale now because of various factors that include loss of job, declining home values, and other reasons. A short sale is done before a home is foreclosed. Foreclosure is when title to the property is taken by the lender and thus they then have full legal title to the property. Learn from short sale agents.


Homeowners, in their purpose to avoid foreclosure, often consider accomplishing a short sale. But note that a short sale has many potential risks for buyers like you. So, if you are intent on buying a short sale property, the following are people that you should consider working with.


An experienced realtor San Diego CA. can tell you about the home that is being short sold. Not all short sales are approved by lenders. Out of 5 short sales in San Diego, only 2 get the approval from the banks. A good realtor San Diego CA that has good working knowledge of the process and is involved in short sales can increase your chances of success. Also, there may be things or provisions that you want to be incorporated in the purchase contract to protect yourself. A realtor San Diego CA is a key expert to have on your team throughout the negotiation process.


You also need qualified short sale agents, not just a real estate agent, but someone who knows everything about short sales, can be essential to a successful closing. You may know of someone in San Diego real estate industry, but if you work with him even if he is not qualified may just hurt your short sale buying process. To find short sale agents, you can interview several and ask how many short sale buyers they have already represented, and how many of those they have closed successfully. If the short sale agents are qualified, they should be able to show you homes for short sale, and when you’ve found the property that you like, negotiate the purchase. A short sale agent can also communicate with the lender.


Besides a realtor San Diego CA or short sale agents, you will also need a title officer to make a title search initially on a short sale property. Through him you will be informed of all the attached liens to the home that you are buying. If there are 3 liens on your property, it becomes much more challenging to get all parties to agree however, not impossible. Waiting for months to get approved by lender will not matter, if any lien holder would want to put a kink in the procedure. Your realtor or agent may be able to recommend a title officer, if you do not know of anyone.


Remember, lenders want their losses minimized as much as they can. The agent or realtor can help you make an offer which is not very much below the market value of the property, thereby increasing your chances for approval. Your agent can save you from wasting months of waiting.


Short sale agents http://www.magnusresults.com/sellers-short-sale-agents of realtor San Diego CA http://www.magnusresults.com/ are efficient and professional in their job, so you can truly rely on their services.