You can find short sale homes anywhere, including in the much-coveted Irvine, California area. You just have to be patient and be willing to wait on the process. If you are interested in a home that is sold on a short sale in the Newport or Irvine area, please contact me, so that I can notify you as soon as one pops up. We can work together so that your dream of living in this gorgeous area of Southern California becomes a reality.
A short sale is a sale on a property that will sell for less than the balance owed on its mortgage. So, you can find home that might be priced much lower than you expect to pay, if you’re willing to play the short sale game. A short sale can be a home that is underwater, an apartment building and vacant land. Whenever a mortgage balance is greater than the market value on that residence, it could be a short sale home.
Here are the qualifications for a short sale:
- The property has to be either underwater or worth less than the balance the current resident owes on the mortgage.
- The seller will have a hardship of some kind. Perhaps they lost their job or experienced a sickness. Their mortgage will be in default.
- The bank that the mortgage is through must be willing to allow the short sale.
- The buyer must be willing to purchase the property and go through the hoops to make it happen.
Interested in Buying a Short Sale Home in Irvine?
If you’re looking to move to this area or any of the surrounding communities, we can help you find one that’s just right for your needs (and your budget).
Call us at 949-385-1684 or get in touch with us online to let us know what you’re looking for.
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