Professional San Jose, CA Realtors: Buy San Jose Short Sale Homes & Properties For Sale

What is a Short Sale?

A short sale is a sale of real estate where the bank and the owner of the house agree to sell the house to a third party for less than the outstanding mortgage balance on the home. Banks agree to short sales because they can avoid the additional cost and time needed to complete a foreclosure. Homeowners agree to a short sale to get out of their mortgage obligation with the minimum possible damage to their credit. A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. Short Sales are not a Real Estate Board Game. Short Sales are designed to help homeowners avoid foreclosure. Most homeowners choose short sales among the foreclosure alternatives. A short sale allows both the lender and the property owner to avoid foreclosure by selling the property at a loss. The option for a short sale provides a way for troubled homeowners to prevent foreclosure and many of the dire penalties involved More…

Why Buy a Short Sale Instead of a Foreclosure?

1. There are more short sale properties available.

According to ForeclosureRadar 280,000 California houses were delinquent on their mortgages at the end of June, 2010, but only 85,000 California homes were owned by banks and for sale as REOs. A recent search of San Jose, CA homes for sale showed 715 short sales and 227 bank owned sales out a of a total of 2,333 homes listed for sale.

2. You can’t win at a foreclosure auction.

Buyers at foreclosure options are pros who have the experience to avoid mistakes and the financial reserves to absorb the occasional mistaken bid. You can’t inspect foreclosures before auction, so you’re buying sight unseen and taking a lot of risk when you buy at auction.

3. You have more control when buying a short sale.

A short sale allows the homeowner to avoid foreclosure and salvage some of their credit rating. This also keeps foreclosure off the individual’s public record, and in many cases will allow the homeowner to avoid a deficiency judgment. Doing a short sale allows you to take a proactive approach to dealing with your distressed loan, rather than go through what can be an agonizing wait for the foreclosure process to run its course. A short sale gives you the opportunity to put in a bid below market value and sit back and wait to see if the bank will accept. You can’t control what the bank will accept for a short sale home, but you can always back out if you don’t like what the bank offers back. Of course competition from other smart buyers is a factor – make sure your assessment of market price is realistic. Contact San Jose Short Sales Specialist to find and purchase San Jose, CA short sale homes and properties at a discount price.

What Are the Disadvantages of Buying a San Jose Short Sale?

Short sales involve a complicated negotiation between the bank and selling owner and it doesn’t always work out. The bank can back out at any time and many short sale transactions fall apart, even after months of negotiation. If you decide to buy a short sale, be prepared to make several offers on homes, to have some of those offers fall through, and for the whole process to take several months.

Find Savings With San Jose CA Short Sale Homes

Buying a San Jose CA short sale real estate and home is an excellent source for real estate investment since they are sold for below market prices. Our list of San Jose short sales will help you discover hundreds of short sale homes for sale in San Jose, CA. Investments in short sale properties in San Jose, CA pay off in the long term, so whether you’re buying San Jose short sale, new homes, condos or foreclosed houses for sale, your properties will continue to earn value. Buying discount San Jose short sale homes also creates big profit margins for future house sales. Learn all about San Jose real estate short sale investing and search our San Jose, California short sale home listings today!

Contact Me to Buy A San Jose Short Sale

Are you looking for real estate in San Jose CA or the surrounding area? View recently listed real estate properties throughout the San Jose, California area. We have hundreds of listings including condos, town homes, foreclosures, new homes and apartments for sale or rent. I have years of experience as a real estate agent and I’ve helped many home buyers purchase short sale properties. Contact me today to get a list of San Jose short sales and to start planning your purchase of a discounted house.

Contact San Jose Short Sales Specialist to find and purchase San Jose, CA short sale homes and properties at a discount price.