Napa Valley Address

Napa Valley Real Estate | Yountville Real Estate

  • Home
  • Blog
  • Listings
  • About
  • Contact
  • Home
  • About
  • Search ►
  • Yountville
  • Oakville
  • Napa
  • St. Helena
  • Rutherford
  • Calistoga
  • Angwin
  • Pope Valley
You are here: Home / Curtis Van Carter / Are Short Sales Worth the Effort for Buyers?

Are Short Sales Worth the Effort for Buyers?

August 21, 2011 by Curtis Van Carter Leave a Comment

Making sense of the story

  • Typically with a short sale,
    the homeowner is underwater and has experienced a financial hardship such
    as a job loss.  To limit the damage to his credit rating, a homeowner
    may attempt to work with his lender to negotiate a short sale.  Not
    only must the bank approve of the short sale itself, it also must agree to
    the price, since the bank will accept the difference as a loss.
  • Unlike foreclosures, in
    which the owner has walked away and the bank is looking to unload a vacant
    – and sometimes vandalized – property, a short sale isn’t a distressed
    home that will sell at an extremely low price.  According to data
    from RealtyTrac, short sales typically sold for nearly 10 percent less
    than the market price in the first quarter of 2011, whereas foreclosures
    sold at an average discount of 35 percent.
  • Home buyers wanting to
    purchase a short sale must have patience.  In most cases, when a
    buyer makes an offer on a house, he receives a response from the seller
    within a few days, or even hours.  With a short sale, the bank must
    approve of the sale and bank representatives are overloaded with
    cases.  It may take 30 days or longer for a buyer to receive a
    response from the bank.
  • In a traditional real estate
    transaction, it is common for a home buyer who currently owns his home to
    make his offer contingent on selling his current home.  In short
    sales, most banks will not approve an offer that is contingent on the
    buyer selling his current home, as too many things can go wrong.
  • Banks also typically won’t consider short-sale
    offers that have inspection contingencies in them, so buyers can either do
    an inspection prior to making an offer or forego an inspection altogether.
  • Even with the challenges associated with short
    sales, buyers should not avoid these transactions.  Being prepared
    ahead of the time and working with an experienced REALTOR® can help buyers
    avoid frustration and surprises down the line.

Reprinted from C.A.R. Market Matters

Thank you for reading this post. If I can ever be of help in finding you the perfect property here in the Napa Valley, please email me at Curtis@NapaValleyAddress.com.

Your Broker Extraordinaire, selling Napa Valley Real Estate from its heart, Yountville

Share this:

  • Tweet

Related

Filed Under: Curtis Van Carter, RE Current Info, Shorts Sales Tagged With: Curtis Van Carter, RE Current Info, Short Sales

Curtis Van Carter, has been one of Napa Valley Real Estate's most knowledgeable and experienced agents. He has been characterized by his clients for his honesty and knowledge to make a home sale or purchase as smooth as possible. If you are interested in selling or listing a home please call or EMAIL Curtis here.

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Napa Valley Real Estate Search

Area Info

  • ,
  • Calistoga, Ca
  • Napa, CA
  • Oakville, CA
  • Rutherford, CA
  • St. Helena, CA
  • Yountville, CA

Latest Yountville Real Estate

  • $719,000 162 Vineyard Circle
    Yountville, CA
  • $684,000 6600 Yount Street #10
    Yountville, CA
  • $2,049,000 1906 Oak Circle
    Yountville, CA
  • $875,000 131 Vineyard Circle
    Yountville, CA
  • $1,749,000 10 Forrester Lane
    Yountville, CA
162 Vineyard Circle
Yountville, CA
Photo of 162 Vineyard Circle, Yountville, CA 94599 (MLS # 22003164)
$719,000
Lot Size
1,120 sqft

Home Size
1,154 sqft

Beds
2 Beds

Baths
2 Baths

6600 Yount Street #10
Yountville, CA
Photo of 6600 Yount Street #10, Yountville, CA 94599 (MLS # 22011991)
$684,000
Lot Size
410 sqft

Home Size
1,054 sqft

Beds
2 Beds

Baths
1 Bath

1906 Oak Circle
Yountville, CA
Photo of 1906 Oak Circle, Yountville, CA 94599 (MLS # 321007320)
$2,049,000
Lot Size
6,116 sqft

Home Size
1,667 sqft

Beds
3 Beds

Baths
2 Baths

131 Vineyard Circle
Yountville, CA
Photo of 131 Vineyard Circle, Yountville, CA 94599 (MLS # 321008872)
$875,000
Lot Size
1,508 sqft

Home Size
1,154 sqft

Beds
2 Beds

Baths
2 Baths

10 Forrester Lane
Yountville, CA
Photo of 10 Forrester Lane, Yountville, CA 94599 (MLS # 321010145)
$1,749,000
Lot Size
5,851 sqft

Home Size
1,976 sqft

Beds
3 Beds

Baths
3 Baths

  • 162 Vineyard Circle
    Yountville, CA
    Photo of 162 Vineyard Circle, Yountville, CA 94599 (MLS # 22003164)
    $719,000
    Lot Size
    1,120 sqft

    Home Size
    1,154 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 6600 Yount Street #10
    Yountville, CA
    Photo of 6600 Yount Street #10, Yountville, CA 94599 (MLS # 22011991)
    $684,000
    Lot Size
    410 sqft

    Home Size
    1,054 sqft

    Beds
    2 Beds

    Baths
    1 Bath

  • 1906 Oak Circle
    Yountville, CA
    Photo of 1906 Oak Circle, Yountville, CA 94599 (MLS # 321007320)
    $2,049,000
    Lot Size
    6,116 sqft

    Home Size
    1,667 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 131 Vineyard Circle
    Yountville, CA
    Photo of 131 Vineyard Circle, Yountville, CA 94599 (MLS # 321008872)
    $875,000
    Lot Size
    1,508 sqft

    Home Size
    1,154 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 10 Forrester Lane
    Yountville, CA
    Photo of 10 Forrester Lane, Yountville, CA 94599 (MLS # 321010145)
    $1,749,000
    Lot Size
    5,851 sqft

    Home Size
    1,976 sqft

    Beds
    3 Beds

    Baths
    3 Baths

Previous Next
 

Napa Valley Info & Links

  • Napa Valley Sold 10/1/20to 12/31/20
  • Napa Valley Photos on Flirkr
  • Napa Valley Videos
  • Yountville Sun Front Pages
  • Yountville A Personal Perspective
  • Detail Neighborhood Info About Yountville
  • Detail Neighborhood Info About St. Helena
  • Detail Neighborhood Info About Calistoga
  • Detail Neighborhood Info About Napa
  • Detail Neighborhood Info About Angwin
  • Detail Neighborhood Info About Oakville

Categories

About…… Curtis Van Carter

Curtis is one of Napa Valley's most experienced and trusted real estate agents.

Follow Curtis

  • Facebook
  • Google+
  • LinkedIn
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Recent Posts

  • Calistoga, Napa Valley, Weekly Real Estate Update March 1, 2021
  • Yountville, Napa Valley, Weekly Real Estate Update February 26, 2021
  • St Helena, Napa Valley Weekly Real Estate Update February 24, 2021
  • Calistoga, Napa Valley, Weekly Real Estate Update February 23, 2021
  • Yountville, Napa Valley, Weekly Real Estate Update February 19, 2021

Napa Valley Info & Events

  • Napa Valley Sunday Open Houses
  • Napa Valley Sold 10/1/20 to 12/31/20
  • Upcoming Napa Valley Events
  • Useful Napa Valley Links
  • Napa Valley Photos on Flirkr
  • Napa Valley Videos
  • Yountville Sun Front Pages
  • Yountville A Personal Perspective

Our Services

  • Short Sales
  • Foreclosures
  • Home Listing
  • Buyer's Broker

Contact

Better Homes & Gardens
Wine Country Group
707.944.0421 office
707.815.8584 cell
DRE # 00770113
  • Home
  • Blog
  • About
  • Listings
  • Contact

© 2021 · Napa Valley Address · Built by Varick Design