This is an example of a Short Sale listing that I have just acquired:
The address is 467 E. 9th Street in Pittsburg, CA 94565
This home is an income producing property, a duplex, with a studio cottage in the back, making a total of 3 rented units with total rent amounts of $2,508 per month. For more information, please visit my website or feel free to contact me at 925.974.7637.
The sales price is $245,000. and the owners/sellers owe considerably more than that. If you go to Zillow, type in the address and do a search, you will find the Zestimate to be $459,775. Whether you believe the accuracy of the Zestimate or not, nevertheless, it is $214,000 over our asking price.
The purpose of the Short Sale is two fold:
- Help the home owner get out of a bad investment/loan situation
- Avoid the bank owning another property which they do not want (it's not the bank's business or in their best interest to foreclose on a property)
As a Short Sale Specialist, I have the knowledge necessary to negotiate with the bank when an offer comes in, I know who makes the decisions for the banks in the Loss Mitigation Department and what it will cost the bank if an offer is not accepted.
If you think that you are in a Short Sale situation, contact Mike Mueller and he will be able to assist you by letting you know if he can re-finance your home and if not, you may contact me and I'll discuss your options with you.
To find out if you qualify to purchase this property, contact your lender or mortgage broker, or contact Mike as well.
If you would like to find out about all the Short Sale or Bank Owned properties available for sale in Contra Costa, contact me at Rafael@RafaelQuintero.com and we will set up a convenient time to meet or I will add your email address to automatically receive any home available this way.
