When You Owe More Than the Property Is Worth · California Short Sales
Owe more on your loan than your property is worth?
A short sale is a sale for less than you owe, with your lender's written approval. You ask your lender to accept less than the full loan balance. Some debt could remain after the sale. Ask a lawyer of your own if that could happen to you. This matters most with a commercial loan or a personal guarantee. A personal guarantee is a promise to pay the loan yourself. Our first review is free. We charge no upfront fees. Before you sign anything, we explain in writing how we are paid. We also explain what sale costs to expect.
What Happens Next · 1 – 2 – 3
How we help in 3 steps
Our first review is free. We charge no upfront fees. Before you sign anything, we explain in writing how we are paid and what sale costs to expect.
Step 1: Tell us what's happening
We look at your first loan and any other liens. A lien is a debt recorded against the property. We also look at recent sales nearby. This shows if you need a short sale. Or it may show that a regular sale could leave you money.
Step 2: We review your options with you, in writing
We explain how a short sale works. We also explain a deed in lieu. That means giving the property back to the lender instead of an auction. A short sale needs your lender's written approval. Ask a lawyer of your own if any debt could remain. This matters most with a commercial loan or a personal guarantee.
Step 3: You decide; we coordinate the plan you choose
If you choose a short sale, we send your lender a real purchase offer from a buyer. It goes to your lender's mortgage-help team. Your lender may call this team loss mitigation. We also send a written estimate of the money left after the sale. This is called a net sheet. Then we track the lender's written decision with you.
Free First Call · Plain Answers, No Pressure
Request a free call
We need only your name and phone number. Gay-Lynn Chavez and Francisco Williams, CCIM help owners of homes and commercial property.
Co-Principals · Residential & Commercial
You talk directly with our co-principals. Both work on homes and on commercial property in Southern California.
- Gay-Lynn Chavez — Co-Principal · Residential & Commercial · DRE #01433767 · Broker: eXp Realty of California, Inc., DRE #01878277 · (562) 858-7065 · GayLynn@chavezgroupusa.com · Chavez & Associates
- Francisco Williams, CCIM — Co-Principal · Residential & Commercial · DRE #01979442 · Broker: Exp Commercial of California, Inc., DRE #02134436 · (213) 880-8107 · Francisco.Williams@williamscap.ai
We are real estate licensees, not a law firm, and we don't give legal or tax advice. If you need legal advice, we can refer you to an independent attorney.