Homeowner Short Sales with H.O.A.'s - Know what you are responsible to pay...

If you have a Silicon Valley property that you are considering selling because you are unable to make the house payment for whatever reason. The banks & lenders are definitely accepting short sales and eating the losses on their mortgage notes with many homeowners. In most short sales the bank/lender will take whatever the market will pay for your home and they also will cover the Property Taxes and Escrow fees as well. This is a huge relief to the homeowner but you can not walk away with 1-cent of profit from the transaction. Also, you are 100% personally responsible to the Homeowners association (HOA) for all your monthly fees and any special assessments that have been issued prior to the sale of your home.

Short Sales and Bank Owned Properties (commonly referred to as REO's) are still the majority of all listings throughout Santa Clara County.

I consider myself as an expert in this 'Short Sale' and 'Bank Owned (REO)' properties.

Please feel free to contact me with any questions...

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085