You may not need to short sale. In fact, we have had some cases where we were able to sell our clients houses when they thought they were "upside down". There are certain "discounts" needing to be implemented into these Short Sale Contracts. We hit up everyone to assist with the discounting in these cases to get our clients away "Scot-free"...
Depending on the market and what your experiences have been thus far with value being established - you may be better off than you think.
This Short Sale Calculator will establish the value of your home, condo or townhome. It will be specifically geared toward the information you provide. It then compiles the data directly from the sources - The Board of Realtors and the Assessor's Databases. In about 30 minutes, you will receive the link in an email to your very own and custom Property Valuation Report.
If you are wanting to short sale a home - make sure you are working with a Professional Short Sale Agent or team of Agents. Make sure they have done their due dilligence and have received training from the "Top Short Sale Schools(certifications)". In addition, if they have worked with short sales in the past or are currently working with short sales from the bank that holds the note on your specific property - that is a Super Bonus.
Final Word, see what they have been writing about their short sale experiences. Are they established Real Estate Agents where your prospective short sale is located? Do they have a team that will be working on your short sale - in house? Are they going to farm out your short sale to a third party with whom there is no accountability? Are the updates going to be given freely or are you going to have to fight for each status update with regard to your short sale?
Have a look at our Santa Clarita Short Sale Resource Page.
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