Can I sell my Silver Lake house before foreclosure?

1. Your loan servicer, for the status, the payoff figure and the reinstatement figure, in writing.
2. A HUD-approved housing counselor, at no cost, through HUD's counselor search or (800) 569-4287.
3. A California real estate attorney, to read the notices and explain your remaining options and timing.
4. Then a listing agent, if selling is one of the paths you want to compare.

Ask the servicer about every alternative, including reinstatement, a repayment plan, a modification, forbearance or a short sale. A sale is one option among several, and it may not be the right one.

Be wary of anyone who asks for an upfront fee, tells you to stop paying your lender, or asks you to sign over your deed. The CFPB lists pressure to sign papers you don't understand and requests to pay someone other than your servicer among the warning signs. The California DRE explains the state's advance-fee rules on its own site.

It depends on the notice stage, the house and the buyer. Your attorney explains how California timing applies to your loan. On the real estate side, I plan backward from the date the servicer confirms.

A buyer paying without a loan may close sooner. A financed buyer may offer more, but needs time for an appraisal and loan approval. I lay out both, with honest timing, and you choose.

A file that answers buyer questions before they ask them.

• ☐ Hazard disclosures early. City maps based on State data show mapped landslide and liquefaction zones over parts of Silver Lake. Check the address on EQ Zapp so the disclosure report holds no surprises.
• ☐ Brush cleared. Parts of Silver Lake are mapped as a Very High Fire Hazard Severity Zone, but not every street is. Check the specific parcel on ZIMAS or the CAL FIRE map, and confirm with the natural hazard disclosure in escrow. LAFD requires clearance within 200 feet of structures in that zone, and a cleared lot shows better.
• ☐ City report ordered on day one. See the Residential Property Report note below.
• ☐ Showings planned around parking. Some hillside streets have posted Red Flag No Parking signs; on declared Red Flag Days, cars parked there are towed. Posted segments in Silver Lake include Riverside Place, Corralitas Drive and Fair Oak View Terrace. Check lafd.org/redflag before an open house.
• ☐ Directions written out. The Bureau of Engineering's Glendale-Hyperion Bridge project, which links Silver Lake and Atwater Village, lists February 2026 as its construction start, with traffic-control phases; the Bureau says the bridge will not be fully closed. Note the current route for buyers.

At closing, escrow pays the loan payoff, which includes accrued interest, late charges and fees, plus any other liens and the selling costs. Any remaining equity is paid to you. If the price may fall short of what you owe, the path becomes a short sale in Silver Lake, which needs the lender's agreement.

The payoff statement shows what the loan requires. Transfer tax, escrow, title and commission are paid from the proceeds. LA County's documentary transfer tax is $1.10 per $1,000 of the sale price; some cities add their own tax, and your escrow estimate shows the exact figure. For qualifying transactions closing after June 30, 2026, Los Angeles Measure ULA imposes an additional 4% tax when the value conveyed exceeds $5,400,000 but is below $10,900,000, or 5.5% when the value conveyed is $10,900,000 or more. The applicable ULA rate is calculated on the full gross value conveyed, not just the amount above the threshold. The City's 0.45% base transfer tax and the County documentary transfer tax are separate charges. Confirm the calculation and any applicable exemptions with your escrow officer.

LADBS requires the seller of residential property in the City of Los Angeles to give the buyer a Residential Property Report before the sale or the close of escrow (LAMC Section 96.300; $70.85 per report as of October 30, 2026). The LADBS Form 9 application says no new report is needed for six months after one is issued, and it lists exceptions, including property exempt from the documentary transfer tax and the first sale of a home in a subdivision whose final map was recorded not more than two years earlier. Check your transfer with LADBS before ordering.

The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker.

What to bring to your CPA or attorney: every notice from the lender or trustee, the payoff and reinstatement statements, any offer you are weighing, and the estimated closing statement.

• How to sell a house in Silver Lake
• How a short sale works in Silver Lake
• Selling a Silver Lake house as-is
• Foreclosure help services
• Nearby: selling before foreclosure in Eagle Rock

Sidney Manzo, CA DRE #01108914
In real estate since 1990 · RE/MAX Hall of Fame · Member, Pasadena Foothills Association of REALTORS® and California Association of REALTORS® (C.A.R.)
Brokerage: RE/MAX Dream Properties (ASLG Inc), CA DRE #02142193