West Sacramento Short Sale Information – What it costs to complete a West Sacramento Short Sale

Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us. Today let’s talk about what it costs to Short Sale your West Sacramento home.

Here is the beauty of a West Sacramento Short Sale. The commissions, back property taxes, closing costs including escrow fees and title insurance, any seller credits for buyers closing costs and even county transfer taxes are paid for by the bank. What we ask is that you maintain the HOA dues, water sewer and garbage and pay your utilities. While we have been successful in getting these covered by the bank, in most cases those fees are very difficult to get covered.

In a West Sacramento short sale we are looking for what we call the three “NO’s”. As in no liability for the unpaid debt, no liability for the income taxes on the phantom income and no cost to you. Nearly every West Sacramento short sale we do has the three “NO’s”. Again without giving tax or legal advice, if the West Sacramento short sale is accepted and closed, state law prohibits a first or second lienholder from seeking a deficiency judgment. Under the Debt Forgiveness Act of 2007 expiring this year, if this was your principle residence or you can prove insolvency chances are strong you will have no liability for the income taxes on the phantom income and of course as outlined above, there is no cost to you. 98% of the time West Sacramento short sales are as-is, as-disclosed sales the buyer either takes the property with no repairs or if there are lender required repairs, they take care of the repairs themselves.

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did.