short sale specialist | Bay Area Short Sale Angels | Monclair | Piedmont

Several Reasons Why You Should Choose BASSA or the Bay Area Short Sale Angels to Work on Your Short Sale

Hi, this is Kerri from the Bay Area Short Sale Angels. We are northern California's number one short sale team. Today I'm going to give you three reasons why you would want to work with the Bay Area Short Sale Angels or BASSA. The number one reason is knowledge. We keep ourselves up to date and informed of all the trends and changes in any short sale laws. Basically, anything that has to do with :k1: short sales, we eat, drink, and sleep it every day. The second reason why you want to work with BASSA is our success rate. We have a 93% success rate. In an industry where 40-50% is normal as far as getting short sales to close, I consider that a huge benefit to have us on your side. The last reason why you would want to work with BASSA, or the Bay Area Short Sale Angels, would be…

What you Need to Know about Keeping Current on Your Bills During a Short Sale

Hi, this is Kerri from the Bay Area Short Sale Angels. We are northern California's number one short sale team. One of the questions that comes up all the time when people are preparing for a short sale is what bills should they continue to pay. First of all, I have to say that I can never tell you not to pay anything. If you have a contract with someone then you need to pay. If you're in a financial situation where you have to pick and choose which bills might be more important to keep current on, the HOA dues if you are living in a community or a condo or townhouse that has a homeowners association. You need to keep those current. An HOA will foreclose on you faster than any bank would. So keep those current because those are the ones that will cause trouble if you don't. Another really…

Understanding the Tax Implications when considering whether a short sale is right for you

Hello this is Kerri with the Bay Area Short Sale Angels. :k1: #1 short sale team. A lot of clients first question is what the tax consequences will be when filing for a short sale. The tax consequences will always vary on whether it is a owner occupied property or an investment or renatl property. Of course the first thing to always do is seek the advice of a tax professional to make sure you are aware of what the consequences will be. In my experience if it is an owner occupied property you will not have to pay federal tax on the forgiven debt and as of the last 8 months in California there are also no taxes on the forgiven debt. Having said that, it is still in your best interest to double check with a tax professional to make sure no tax codes have changed recently. On the other hand…

Understanding what the term "Seller Pays Fee" Really Means in your Short Sale Agreement

Hello this is Kerri with the Bay Area Short Sale Angels. The :k1: #1 Short Sale Team. One question that comes up a lot in our business is what it really means when it says 'seller pays' on the purchase agreement. Often times it will list city/county transfer tax, closing cost credits, title fees as paid by seller on a short sale purchase agreement all owed by the seller. Since most short sale property owners can not even pay their mortgage these added fee's can be a concern while trying to gain approval. Do not be scared away by all these fee's because although the agreement says the 'seller pays' it will all be covered by the bank. These numerous fee's associated with closing on a house are deducted from the total amount that the bank would receive once your house is sold. Since the lender is taking care of these fee's there…