buying a short sale

Buyer’s Earnest Money Deposit on a Short Sale?

July 27, 2012

Q. CJ, can you explain what “buyer to deposit earnest money with escrow pending lender approval” means in the purchase agreement for the short-sale I’m buying means? In “traditional” sales, the earnest money deposit is put into escrow within a contractually designated period (3 days customary for California) upon confirmation of acceptance of the offer […]

What are the steps in buying a short sale?

June 7, 2011

A short sale is a real estate sale by the private owner (not a bank) where the home’s market value is less than the what the seller owes the bank. Therefore, the seller is asking the lending bank to allow them to sell the home short (at a loss). Because the lending bank is not […]

How easy is it to buy a short sale in San Jose?

February 2, 2011

Q. I’m Thinking of buying a condo in San Jose area but notice they are all short sales. How easy is it to buy a short sale and how long does it take? It it all depends on the lender(s) involved the listing agents experience with short sales and the value perceived by the short […]