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Santa Maria Real Estate Update: Can Investors Purchase Short Sales?

Yes, investors can purchase short sales. There are pitfalls though, such as if the property has a notice of default filed on it. In that case, specific disclaimers MUST be provided to the seller. California law seeks to protect sellers from unscrupulous equity strippers, and as ironic as it may sound, those disclaimers still apply when the property is a short sale. So, even though there is no equity, investors much make sure sellers are aware of their rights.

I Haven’t Missed Any Payments — Can I Apply for A Short Sale?

As a Santa Maria Short Sale Agent, I am asked this question by potential short sale sellers all the time. It is important for those inquiring to understand that even though they have not missed any payments, they may have an “imminent hardship” that would qualify them for a short sale. Imminent hardship means that your hardship may not be here today, but it is definitely on the horizon. And you do not have to currently be in default on your payments to apply for a short sale. A well documented imminent hardship may be enough.
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