What is a short sale?

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WHAT EXACTLY IS A SHORT SALE?

Put simply, a short sale is the sale of a home in which the amount owed to the lender(s) is more than the amount that the home can be sold for. Instead of the homeowner having to bring in money to complete the sale, the sale is completed through negotiations with the existing lender(s). The lender(s) agree to accept less than the full amount owed to satisfy the debt and allow it to be paid off “short.”

Put even more simply, a short sale is a real estate transaction that requires an approval from the lender – period. Read more »

Realtor San Diego Corner: Can You Short Sale Rental Property?

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Short Sale San Diego Realtor Confesses

 

With national elections behind us and the Mortgage Forgiveness Debt Relief Act “appearing” to come to a close (stay tuned here), Team MRG now explores a large segment of the “pondering short sale” homeowner population that either

A) Has never lived in the home  they’d like to short sale

OR

B) Has lived in the home at one time.

We answer this question a lot. In fact, about 1/3 of our clients are landlords.

The answer on whether you can short sale your rental property is? Read more »

Realtor San Diego Confession: Short Sale Tax Loophole Ends 12/31/12

Greetings MRG Nation! Your all too enthusiastic Realtor San Diego Team is back once again to answer more of your Real Estate Questions.

Keep Sending Them  – We’ll Keep Answering Them.


Countdown To 12/31/12 – Say it’s not so!

Last time we answered the question many current and prior homeowners face – that is, “How Soon Can I Buy a Home After a Short Sale.” Today we’ll cover some more common after effects of a short sale such as:“What are the tax consequences if I do a short sale – how does that piece work? Is it like forgiven debt? Do I receive a 1099?” Read more »

New Public Service Announcement For San Diego Short Sale Homeowners

The Magnus Realty Group Team has completed production on their Short Sale Public Service Announcement. The video announcement is aimed at helping thousands of homeowners and buyers in San Diego, Riverside, Orange County, Los Angeles, and San Bernardino counties that are looking for real answers on their home and mortgage.


Magnus Realty Group is honored to have such wonderful clients. THANK YOU!

Sellers Corner

Find out how much your home is worth and how Magnus Realty Group can help you sell your home. Also, if you are looking into a possibly exploring the short sale of your home, please be advised that we have been trained by former bank loss mitigators in getting short sale cases approved by banks. We currently average a 96%+ short sale success rate for our clients. Learn More