It may truly be the choosing of the lesser of two evils — short sale or foreclosure — but, if you have to get out of your home, finding a way to complete a successful short sale may provide the best outcome for a distressed homeowner.

 Short sales are typically more difficult than a regular real estate transaction but they are better than simply walking away from a home and letting it foreclose.

These days, with foreclosures and short sales comprising nearly 40 percent of recent home sales.

Short sale is a "win-win" situation. The bank ends up losing less money than if it ended up taking back the property and the homeowner's credit is not damaged as much as from a foreclosure.

But the short sale process is not easy or financially pain-free. Some lenders will absorb the difference between what the outstanding mortgage is and what the home sells for in a short sale. However, other times the lender will seek to collect the difference from the homeowner.

If you're considering a short sale, here are some tips that you should consider.

Get expert help.

This is a must. Short sales are difficult and negotiating through the process can be very stressful. You need guidance and the best available information that you can find. There's out of pocket charge for our services to the homeowner. That's because the lender allows the closing costs to be paid out of the closing costs that is authorized by the homeowner.  We will guide the homeowners, letting them know all the documents that they need to collect for their specific lender.

Start the process as soon as possible.

Contrary to what some homeowners believe, you do not have to be delinquent to start or complete a short sale. Don't sign title over to anybody else to conduct a short sale for you. A lot of people will sign the deed of the property over to somebody to negotiate the property — that's not needed."

Submit a hardship letter.

Even though you'll utilize the services of expert agents and short sale specialists, you'll still need to do your part to help convince the lender that the short sale is the best outcome for all. The hardship letter explains to the lender why it is impossible for you to pay the full amount of the loan. It demonstrates your true financial hardship. Experts say you have to be careful if there is a big gap between your current income and the income you used to get the initial loan to buy the property. A large gap could point toward possible mortgage fraud, unless your financial circumstances have drastically changed.

Price the short sale competitively.

Usually, it's best to price the property at or near market value. Keep it competitive. A lot of people want to list the property at what the debt is but that is not usually successful. The good news is that Olsen says banks are more willing to negotiate. We are seeing more approvals and consequently more closings every single month.

The short sale can be a lengthy process, have, patience, quality experts on your side, and stay on top of what is needed from you to help close the deal. We have helped numerous homeowners in San Diego and Riverside counties and we can help you. Don't trust your home with just anybody!!!  We are a licensed real estate Brokerage County Properties affiliated with County Foreclosures and Properties USA Inc…. We've been working in the real estate industry with homeowners since 1995. … If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also.

Please feel free to contact me today at my website, click County Properties San Diego or County Properties Riverside