{"id":2958,"date":"2025-11-05T21:33:33","date_gmt":"2025-11-05T21:33:33","guid":{"rendered":"https:\/\/shortsalesolution.net\/2025\/?page_id=2958"},"modified":"2025-11-12T22:36:10","modified_gmt":"2025-11-12T22:36:10","slug":"faqs","status":"publish","type":"page","link":"https:\/\/shortsalesolution.net\/new\/faqs\/","title":{"rendered":"FAQs"},"content":{"rendered":"\t\t
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Frequently Asked Questions<\/h3>\t\t\t\t<\/div>\n\t\t\t\t
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Introduction<\/strong><\/h3>

We understand that navigating a short sale can feel overwhelming especially when every situation is unique. That\u2019s why we\u2019ve created this FAQ section to help you find clear, straightforward answers to the most common questions our clients ask.<\/p>

Our goal is to make the process as transparent and stress-free as possible, so you can make informed decisions about your home and your future. Whether you\u2019re just starting to explore your options or already in the middle of a financial hardship, we\u2019re here to guide you with honesty and expertise.<\/p>

Guidance and Support<\/strong><\/h3>

If you don\u2019t see your specific question listed below, don\u2019t worry. Every homeowner\u2019s situation is different, and we\u2019re happy to provide personalized advice. You can reach out for a free, confidential consultation no pressure, no obligation, just the information you need to move forward confidently.<\/p>

Closing Note<\/strong><\/h3>

Our team has successfully helped hundreds of homeowners in the Sacramento Metro and East Bay areas through the short sale process. We\u2019re committed to helping you understand every step, every document, and every option available to you so you\u2019re never left guessing.<\/p>

Your peace of mind starts with the right information and we\u2019re here to provide it.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Will I be responsible for the difference between what I owe and what the house sells for? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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For most owner-occupied California homes with one to four units, if your lender approves a short sale in writing, state law generally prevents them from pursuing you for the remaining balance. However, exceptions exist\u2014such as cases involving fraud or other unusual circumstances\u2014so it\u2019s important to confirm with your lender or a qualified professional before proceeding.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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Will I owe taxes on the amount of loss that the bank takes on my short sale? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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In both cases, with short sales and foreclosures the difference between what you owe and what the lender receives may be reported to the IRS and you will be taxed on that amount at the end of the year (1099C). \u201d It is best to contact your tax advisor for additional information.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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What is a \u201chardship\u201d to the lender in order to qualify for a short sale? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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Today it is harder to not qualify, than to qualify. There are numerous ways to qualify for a short sale and a borrower does not have to be behind on payments. If a borrower can show they are struggling to make payments or are facing some other type of hardship such as divorce, tenant moving, job transfer, medical emergency, decrease in pay, etc, then a bank will consider approving a short sale.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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After a short sale when will my credit permit me to purchase another home? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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A new loan can be obtained under FHA & VA within 2 years after a short sale; under a Conventional loan, 5 vs 7 years with a foreclosure.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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How long does it take to complete a short sale? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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A short sale takes on an average 3 to 4 months from beginning to end.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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What is included in the short sale and service you provide during the 3-4 month process? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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We do the entire process. The house is marketed on MLS (Multiple Listing Service) just like a typical listing. Buyers view the house (accompanied by the Buyer\u2019s Agent) and an offer is submitted. Once an offer is submitted, the entire short sale package is submitted to the lender(s). Once the lender has the package it usually takes about 4-8 weeks before the lenders order a BPO (Broker Price Opinion) or an independent appraisal on the house. This appraisal will tell the lender the value of the property; in turn once the lender has their own assessment of value of the property they will do the following: (a) Accept the offer (b) Counter offer. Once an accepted offer is established a traditional 30 day escrow typically takes place.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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Do I need to keep showing the home during the entire process? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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No, once we have received the first offer and perhaps one or two \u2018back up offers\u201d it is not required to constantly keep showing the house, allowing you to resume a normal living pattern.<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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How difficult will it be for me to rent a house after a short sale? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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You are not alone, since the beginning of the housing collapse many landlords have rented to many well qualified homeowners who have had a short sale or foreclosure. As rule there are several factors that a future landlord will consider including the rest of your credit and perhaps most importantly is your current monthly income.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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Do I need to do any \u201cfix up\u201d or preparation to the property? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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The property is being sold \u201cas is\u2019 and no improvements are required from you the Seller. The current condition of the property is reflected in the selling price of the property.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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Am I required to display a \u201cfor Sale\u201d sign in front of the property? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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No, a sign is optional. If a sign is in place, it simply reads \u201cFor Sale\u201d with our real estate company name (Your Advantage Realty) and phone number.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Let\u2019s Talk About Your Options<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Every situation is unique \u2014 we\u2019re here to listen, answer your questions, and guide you toward the best solution.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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