Phoenix Short Sales Help Make Short Work of Selling a Home

You may not know what the term “short sale” means. All you know is that you live in the Phoenix area, and that you need to sell your home. However, the economy has slowed the buying trend, and you don't know what to do. A qualified Ceritifed Short Sale Phoenix realtor can explain the short sales process to you, and help guide you every step of the way. There is a way to sell your home!

The economy has affected many people; jobs have been lost and hours cut. Through no fault of your own, you find yourself in a situation where you are behind on your mortgage and could be facing foreclosure. The only solution is to sell your home – but to who? In Phoenix and surround areas, short sales have helped many individuals and family's get out from under mortgages they can no longer afford.

An experienced real estate agent can explain every aspect of the process, so that you fully understand how it works. Some people bash short sales, but this is usually due to the fact that they want to sell a home NOW, and the process can get lengthy if you don't have the right realtor to help you along. A Short Sale agent can help locate the perfect buyer for your home, so that the process does not drag out over an extended period of time.

Here is a short overview of the process:
Your Certified Short Sale Realtor will provide this process for you at NO cost
Get approved for a short sale from your bank. Usually, there are two factors that allow you to do this; either you are facing a hardship, or you owe more on your mortgage than your home is worth. Hardships may include loss of job, divorce, a death in the family, etc.

You will need to submit a financial package to your lender, containing various documents including a hardship letter, bank statements for a selected period of time, financial statement, tax returns, etc. A reputable Short Sale Phoenix realtor can help so that you have everything in your package that is needed.

Now, your agent can begin searching for a buyer for your home. Of course your lender does not want an empty property, they would rather have some sort of payment for your house. That being said, they do not want ridiculous offers; they would like an offer from a buyer that is somewhat close to market value of comparable homes in the area.

Once your bank approves a buyers offer, you are on your way to being free of the debt! While short sales do affect your credit rating, they do not completely destroy it as the foreclosure procedure does. Normally, within just 18 to 24 months you can purchase another home, whereas with foreclosure it will be about 5 to 7 years before you can attempt to buy a home. In Phoenix, short sales are the way to go if you want to avoid foreclosure and be able to purchase another home in the near future. Contact an experienced short sale Arizona realtor today!


Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

Scottsdale AZ Short Sales: Relief For Homeowners Drowning in Debt

If you live in Scottsdale and can no longer afford your mortgage, short sales may be just the solution you need. You are drowning in debt due to any number of reasons – the economy, loss of job, divorce, a medical emergency. For whatever reason, you are behind on your house payments and are afraid that foreclosure is just around the corner. You are worried, stressed out and in desperate need of an answer.

In instances like these, a reputable Scottsdale realtor can be your best friend. They understand the short sale process inside and out, and can help you sell your home quicker and more efficiently. While this process can get drawn out, it is usually due to the fact that potential buyer's offer way too little money. A real estate agent who knows the market can find the perfect buyer for your home.

While you cannot choose to do a short sale yourself, you can submit a financial package to your bank so that they can approve this method to sell your home. Banks are in business to manage money, not to own vacated homes and properties. They would much rather take a loss on your home than to actually have it in their possession. If you can prove that you have a hardship or owe more on your mortgage than your home is worth, your lender may approve this process.

Once you are given the green light, a qualified Certified Short Sale Arizona realtor will locate qualified buyers for your home. This is the crucial aspect of the process; the buyer should be willing to pay a price that is close to the market value of other comparable homes in the area. The bank is not likely to accept an amount that is substantially too little, so a realtor can really come in handy in this instance. They know what homes in the area are worth, and can find buyers who are genuinely interested and qualify.

When you face foreclosure, you face a bleak future. Your credit will be destroyed, and you may be unable to purchase large ticket items such as a home or vehicle for years. The short sales process does affect your credit, but not in the way that foreclosure does. You will likely be able to purchase another home for you or your family in just two years or less. This is the very best solution when you are drowning in debt and have no idea how to get back above water! If you live in Scottsdale or surrounding areas, consider the short sales process. A real estate agent with years in the business can place a “Sold” sign on your home fast!

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

Phoenix Short Sales Make It Possible For Homeowners to Get Out From Under Their Mortgage

Unexpected circumstances take place in life, causing financial problems. A divorce, death in the family, or loss of job can devastate you. When you find that you can no longer afford your mortgage, short sales are a possible solution to your problem. If you live in the Phoenix Arizona area, you may be able to get out of your home without facing foreclosure and the problems that go along with it. You may love your home, but when you are faced with financial worries it is sometimes necessary to do what you have to.

Many homeowners really don't understand the short sale process or how it works. This is when it is beneficial to you to seek the guidance of a realtor who is experienced in the process. They can help you understand how the process works, and what is involved. There is much negative information out there on short sales, but most of it is due to the fact that the process can get lengthy if you do not have a professional to guide you along the way. A reputable real estate agent will help you find the perfect buyer for your home, which can shorten the process substantially.

Locating the right buyer is what often lengthens the short sale process. Many want to offer an amount that is ridiculously low, which the lender usually will not approve. The bank is willing to take less than what you owe on your home, but they do not want to settle for pennies. A Phoenix realtor with vast experience in this process can locate the perfect buyer for your home, so that you can get out of a stressful situation quickly.

Why would your bank take less than what is owned on your home? They would absolutely rather have some money and suffer a loss than to have a property sitting empty. When a buyer offers you a purchase price that is acceptable to your lender, you have a sale on your hands, which is a great relief to you. The result is that you get out of an impossible financial situation, without totally destroying your credit – which is what happens if you are forced to go through foreclosure.

Not only is foreclosure deadly to your credit score, it also causes many people embarrassment because of the stigma that can be attached. If you end up going this route, you can expect to be unable to purchase another home for many years. Short sales do damage your credit, but not to the extent that foreclosure does. You can often buy a new home in only two short years.

The fact is that banks do not want to have properties on their hands – they deal with money and financial issues. If you find yourself upside down in your mortgage payments and feel that there is no way out, contact a reputable Certified Short Sale Phoenix real estate agent who has helped thousands get out of their home the easiest way possible. Short sales are a life saver for many, and may be your saving grace as well.



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Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties