It Pays To Be Patient In A Short Sale San Diego Transaction

August 21, 2012

In a short sale arrangement, it is said that every player is a winner. The seller, though he owes something to the bank, can actually win something under this kind of arrangement. Using the short sale arrangement, he can settle the obligation with the lender to pay off an amount even if it is lower than the obligation. This will also help buyers like you since you can get a property at a discounted price. A Short Sale San Diego offer may be good to look at but don’t rush into this kind of arrangement. Remember that in a short sale transaction, patience is an important ingredient. If you want to make this transaction work for you, make sure you pack loads of patience and understanding. You need patience since the transaction can last for weeks and even months.

There are some factors that can complicate and slowdown the procedure, and the biggest factor of them all is the lender (bank). It is a common thing to see banks playing their cards smartly, checking all offers and selecting the best offer. This is expected since they want to make money from the transaction. This is the reason why San Diego Short Sales are not recommended for the buyers who are in a rush to settle into the property. However, there are short sale homes that are offered by private lenders. Just to give you an example, sometimes it takes three months before the bank says approved or not but private lenders usually process the transaction faster.