Foreclosure Resources

Basics to a Santa Barbara Short Sale

Santa Barbara short sales can seem like a daunting real estate transaction for most Santa Barbara home sellers  and home buyers. The truth is, however, that short sales have a lot of the same basic elements as any Santa Barbara purchase agreement. 

The basic elements of a Santa Barbara short sale include:

  • Signatures from competent parties
  • Adherence to California state laws
  • An adequate description of the Santa Barbara property for legal purposes
  • A clearly defined date in which the seller will vacate the property
  • A clear statement of what items are included or excluded from the Santa Barbara home sale
  • Contingencies for inspections, as well as specified deadlines for when those inspections happen
  • Contingencies for title research, as well as discovery of liens
  • A schedule of document deliveries involving both parties

Unique Qualities of a Santa Barbara Short Sale Transaction

What makes a Santa Barbara short sale unique from any other Santa Barbara real estate transaction is the process. 

For instance often times, a home seller must receive approval on a sales price from the lending agency.  That's because the lending agency wants to minimize the amount of money it's going to lose during a Santa Barbara short sale.

Check out some of our other helpful Santa Barbara short sale resources to learn more about how this process works.  These tools include:

Stephanie Young and Marie Sue Parsons - Your Santa Barbara Short Sale REALTORS

Contact us, Marie Sue Parsons and Stephanie Young, today to learn more about how we make navigating the Santa Barbara real estate market easier for Santa Barbara home sellers and home buyers everyday.

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