Barr Realty - we are the short sale specialists
RENAISSANCE
1700 East Walnut Avenue,
Suite 450, El Segundo, CA
$ 2,873,567

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The information contained in this website is intended to be used for informational purposes only and to provide a general overview of the topics described herein. There may be tax and other legal consequences associated with a short sale. We makes no representations or warranties concerning potential tax or legal consequences relating to any final disposition of any property. Clients are advised to consult with a tax professional regarding the potential tax consequences for their particular situation. We are providing a service in response to a complex situation and offers a recommended solution where possible. Nothing is represented as tax advice to our clients as every situation may result in different tax consequences. we are not a law firm or an accounting firm and regarding any specific questions relative to any transaction, we strongly encourages all parties, agents, and brokers involved in a transaction to seek such advice from a professional advisor. © www.ShortSaleArbitrators.com 2010 - Short Sale Arbitrators - , , - DRE Lic. 01214238
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WHAT IS SHORT SALE?

In a short sale, the bank or mortgage lender agrees to discuss a loan balance because of the an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is doing the other a favor, a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than foreclosureor continued non-payment would entail. Barrowers are able to mitigate damage to their credit history, and partially control the debt. A short sale is typically faster and less expensive than a foreclosure It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance offer.

Lenders often have loss mitigation departments that evaluate potential short sale transactions. The majority have pre-determined criteria for such transactions, but they may be open to offers, and their willingness varies. A bank will typically determine the amount of equity (or lack there of), by determing the probable selling price from an appraisal or Broker Price Opinion (abbreviated BPO or BOV).

Lenders may accept short sale offers or requests for short sales if a Notice of Defult has not been issued or recorded with the locality where the property is located. Given the unprecedented and overwhelming number of losses that the mortgage lender have suffered from the 2009 foreclosure crisis, they are now more willing to accept short sales than before. This presents an opportunity for the under-water borrowers who owe more on their mortgage than their property is worth and are having trouble selling to avoid foreclosure as a result.

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REALTORS
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LENDERS
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Orange County CA Foreclosure Realtor

Welcome to Barr  Realty – the leading real estate firm serving the  areas of Orange County, Riverside County, San Bernardino County, Los  Angeles County and San Diego County.  Southern California is one  of the finest places to live in the nation, with its thriving  commerce and culture, relaxing climate and surroundings, and  superlative quality of life. Allow George Barr, founder of Barr  Realty and the leading Orange County CA foreclosure Realtor® to show you how all that the areas have to offer, from the  communities to the lifestyle and the many exceptional residences for  sale.
Barr Realty was created to provide both buyers and sellers  of Southern California real estate with the finest possible  services.  George  Barr understands how significant any real estate  decision can be, and the firm strives to be there for clients at  every step of the process.  Expect a professional partner that  is dedicated to listening to your questions, providing solutions to  your concerns and offering advice and guidance that only looks out  for your best interests.  This is the only way to ensure that  you complete your venture with the utmost success and satisfaction.

Orange County Foreclosure Realtor®

Barr Realty specializes in all types of  residential real estate, from single-family homes to condos and  estates in settings from the oceanfront to the finest gated  communities.  The firm is also the premier resource for  distressed properties – if you are a homeowner in danger of  foreclosure, ask about how Orange  County CA short sales can benefit you.  Are you  looking to invest in a short sale?  Use the experience and  knowledge of the firm as an Orange, Los Angeles, San Diego and Riverside  County short sale Realtor® to your advantage. Feel  free to explore the website and learn more about the area and  communities and begin your search for properties.  Read about  the many advantages and intricacies of foreclosure and short sale  properties.  When you are ready to take the next step, Barr  Realty will be ready to take your call




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