Ask a Specialist

Visit our Contact Page to ask us your questions about Contra Costa short sale, bank owned properties/REO homes and homes in default.  We’ll do our best to answer, and can provide you with further resources to research more yourself if warranted.   We’ll post our questions and answers.

Ask away . . .

A couple of important disclosures:

  1. “Windermere Bay Area Properties” is not associated with the government, and our service is not approved by the government or your lender;” and
  2. “Even if you accept this offer and use our service, your lender may not agree to change your loan.”

Responses

  1. Hi,
    I am in the beginning stages of trying to buy a house in a short sale. The seller has accepted and signed the offer. Now it has been sent to the two banks involved and I was told to be prepared to wait 30-45 days to hear anything. The weird thing is, my realtor told me that the clock has started ticking form the time the seller signed off on the offer and that I need to get the home inspection done in a week and decide on my mortgage lender. I don’t want to pay for a home inspection if I don’t even know if the banks are going to come to an agreement with me. Do I have to do this in the week time frame if I haven’t heard back?? If I don’t, will I forfeit my option to inspect the house prior to purchasing? Please advise. Thank you!
    Chelsea

  2. Hi Chelsea, this is something you likely should ask your agent about. But most often, in representing buyers in short sales, we will add a clause that starts the inspection and appraisal timelines after bank approval of the contract. Though its all a negotiation and some listing agents do want timelines to start immediately. So, again, check with your agent, as every situation is different and I would defer to their expertise regarding your situation.

  3. Hello Catherine,

    Do you do short sale for property from Las Vegas? We bought our investment home in Vegas for about 5 yrs now…1st lien with Wells Fargo and 2nd with Bofa.

    What are the fees associate with short sales process if any?

    Thank you!

    • Hi , I don’t necessarily list there myself but I network and refer to agents all over… if you want a referral to a great Las Vegas agent, I’d be happy to provide that. Plus if you have an agent you like but doesn’t like to do short sales, I also work on a referral fee basis with other agents as they work on the house and marketing and I work on the short sale side 🙂

      No fees on a short sale (unless you use an agent that uses a third party negotiation company that charges a fee), all fees, commissions and customary seller paid closing costs are all typically approved by the bank, so non money out of pocket to a selelr.


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