The US housing market is filled with homes that have fallen in value during the current mortgage prices. This leaves homeowners "upside down" on their mortgages. When this happens and homeowners need to sell their homes due to relocation or financial difficulties, they become what is known as distressed sellers.
In some instances, banks and mortgage holders will agree to allow the homeowner to sell the home at a lower price than is currently owed on the home in order to close the deal and prevent a potential foreclosure.
Don’t dive right in to short sales transactions as a Realtor. Work with other Realtors and agents who are experienced in closing short sales transactions in California. They are a little trickier than traditional real estate deals and you want someone with knowledge and experience in your state to show you the ropes.
Do a little independent research. The more information you gather, the better. Turn to reliable resources on the Internet that have information specific to the state of California and to short sales.
Contact Eastland Escrows to handle the escrow details for you.