Have You Heard About These Short Sale Charges?

 Currently there are about 139 Costa Mesa short sales on the market. Short sales can present an excellent opportunity for homebuyers and many of our clients have completed succesful short sale purchases. One of the main differences between a short sale and a standard sale is the amount of time.  Buyers have to exercise patience and wait for the lender's approval, which in some cases can take months. However, once the official short sale approval is in hand, the escrow period is just like a standard sale, typically lasting 30-45 days. 

Possible Short Sale Charges

 There are some charges that short sale buyers may be responsible for. Some items to find out about are: 1. Short sale negotiator fees (typically about 1% of the sales price)2. Back HOA dues3. Other liens on the property It's a good idea to find out about these charges as early as possible so you can factor them into your budget. If you would like more information on these charges and whether or not they are a factor in any short sale property that you are considering, please contact us at shortsales@torellirealty.com