Do you have what it takes to chase Santa Clarita Short Sale Deals? A lot of clients we first meet have an interest in short sales, often times identifying several Santa Clarita homes for sale that are in-fact short sales. What the buyer doesn’t usually realize until we have a minute to educate them, is what it takes to pursue a short sale – TIME. Sometimes lots of it.
Let’s be clear, you can have a seamless, quick, short sale transaction with no headaches. It happens. Just not usually. So we won’t discuss the utopia of Santa Clarita short sale deals, because the majority of them require several the following:
– Patience
– Open ended time frame to move
– Ability to not get invested emotionally in the home until it’s a DONE deal
When you pursue a short sale in Santa Clarita, after your is submitted and after the seller agrees to it’s terms, the offer is then sent to the lender(s) for approval. That approval process is often times 1 month to 4 months long. It just depends. Usually though it’s closer to 1-2 months long. When the bank comes back with an answer to the offer, often times it’s a counter offer, as in – they want more money or won’t pay for certain customary closing costs a seller usually pays for.
If the bank wants more money in a short sale, well then you just waited about 1-2 months for that answer. Typically buyers are drawn to Santa Clarita short sale deals because of the low advertised price – that was NOT approved. Which is usually the first contributing factor to a buyers confusion surrounding short sales.
As you can see… waiting a month or two, or three for a bank to counter back a higher amount they want would be bad for a buyer who got romantic with the idea of owning that home, but at the lower price, perhaps the only price they could afford – back to the drawing board!
96% of what’s selling are NOT short sale deals in Santa Clarita
Getting a fantastic deal on a home is always nice and of course feels great to save money. But if you’re wasting valuable time not owning a home (read: no tax write off), and possibly seeing increases in market values and interest rates… then chasing Santa Clarita short sale deals may not only be a waste of time, but it can be costly.
If the above factors don’t bother you, then let’s chat about short sales. They’re excellent opportunities for investors who want to buy and hold or possibly flip if you don’t need a quick flip since there can be waiting periods to flip a short sale home you purchase (i.e. 90 days before selling).
Are you in the market for a short sale in Santa Clarita, or just in the market for a home in general? Contact us here at the AskRobertSCV Team! Reach out to us at 661-373-2374 or just make contact here.
Watch the below episode of AskRobertSCV TV which touches on the topic of Chasing Santa Clarita short sale deals.
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