I am a Qualified Buyer and I Want To Buy A Ventura County Short Sale Property. Why Is It So Difficult?

Ventura County CA – The Stop Foreclosure Institute recently received a question from Daniel. Here was his question.

"I am trying to buy a short sale property. I put my offer on the property a few months ago. The property was priced about 50% lower than the other homes in the area.

The bank finally approved the short sale. However, they said that I have to pay the back taxes, unpaid homeowner's association fees, and the seller's closing fees.

I agreed to do that because the home was such a good deal. However, now that I've agreed to that the bank won't get back to the agent.
Now the agent is saying that they won't approve the sale price even with my paying all of those costs. I don't understand what is going on? Please help. Daniel."

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to his question. Daniel, it sounds like you are frustrated. Here is the reason that your offer is not being accepted by the short sale lender.

You mentioned that the house is selling for much less than other homes in the area. It must be worth more than what you offered. Otherwise, you wouldn't have been willing to pay for all of those other costs.

The bottom line is that bankers are not idiots. They have a number of different things they check before they approve a short sale. One of those is the fair market value of the home.

They will usually order and appraisal to check the value. It sounds like they took a second look at the appraisal and realized that the home was selling below market value.

If you really like the home, then you can see if they will accept an offer closer to the appraised value. Or, keep shopping for another home. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 805-208-0823.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ventura County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this,

Chris B Johnson, Realtor
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist, Certified Distressed Property Expert

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Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, www.theshortsaleguide.com ,
Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure.

You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read http://venturacountyshortsalerealtor.com/?p=948.
For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Also seehttp://venturacountyshortsalerealtor.com/?p=1066.
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Loan Mod vs Short Sale Click here.
Income Property Info Click here.