Short Sales are a great way to help a home owner sell a home that they can no longer afford and is worth less in the current market than what they owe the bank. This is the situation many have found themselves in after the recent economic events. A reputable Realtor® can assist a distressed home owner in this process. Unfortunately, like any process that involves money, there are the bad apples out there who take advantage of those needing and looking for help.
The laws are evolving to help protect the consumer. But laws alone are not enough. Even though many improper procedures may be in an honest but uninformed attempt to help the home owner, laws usually come into existence AFTER the fact. And, crooks, by very definition, break the law. What is the answer? Education is possibly number one. Does this mean you need to know everything about short sales? NO! Just be aware of a few red flags, and always work with a reputable and knowledgeable Realtor® like those at Yuba Sutter Homes and Loans.
To aid this education process, the California Real Estate Commissioner, Jeff Davi, announced the issuance of a Consumer Alert by the California Department of Real Estate. To read the article click HERE.
Of course, you can always contact us for all your real estate questions, needs, and help with your purchase or sale.
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