Welcome to class today, once again on the topic of short sales, whether you are a buyer of seller they’re are plenty of Do’s & Don’ts to go around when it comes to a short sale. Here are just a few!

Short Sale ~ Do’s

  • Be sure you understand your commitments and expenses contained within your contract.
  • Are you required to submit your initital deposit to the escrow or title company even if your offer hasn’t been accepted by the seller’s lender(s)?
  • Are you required (by contract) to proceed with the appraisal at this point?
  • Will you be required to complete the property physical inspection?

Short Sale Don’ts

  • Don’t open any new credit or make any large purchases during the home buying process.
  • Don’t change jobs while buying a home.
  • Don’t make any unusual or large deposits while in escrow.
  • Don’t co-sign for anyone else.
  • Don’t pay of any debts/close accounts during the home buying process

These are just a few do’s and don’ts while in escrow! Bottom line DON’T DO ANYTHING WITHOUT FIRST SPEAKING WITH YOUR LOAN PROFESSIONAL, your loan originator or lender, because what may seem like a good idea to you could make the difference between a failure vs. a successful closing.

So when you, or anyone you know needs help when it comes to a short sale, contact me! Lynda@PreferredHomeBrokers.com

Written by Class Instructor: Lynda Eisenmann

I maintains an active residential re-sale brokerage in Brea, CA, located in Orange County, about 20 minutes north of Disneyland. Contact Lynda directly at (714) 595-1494, or Lynda@PreferredHomeBrokers.comCA License #00402040

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