Arizona Short Sale Buyers &
Sellers
We are both SFR Certified (Short Sale &
Foreclosure Resource Certified) in the metro Phoenix, Arizona area and are
able to answer your questions and provide assistance whether you need to
sell your home but owe more than it is worth or are in the market to buy and
looking for a good deal.
We know that there is a lot of confusion
surrounding the real estate short sale process. Actually, the questions are
coming from two groups -- the buyers who view it as a possible investment
opportunity, and the sellers who view it as a way to avoid foreclosure by
selling their home for less than they owe.
Both sides can enjoy great advantages. When used properly, a real estate
short sale can help the homeowner in financial trouble avoid a home
foreclosure. But the short sale can also be a good investment opportunity
for the savvy investor who knows how the process works.
Why
sell my home as a short sale
First of all a short sale will not work for
everyone. You must be able to show the bank that you cannot make your
mortgage payments due to a hardship. Owing more than the house is worth is not
considered a hardship if you are able to make the payments. We can assist
with the paperwork and documentation that you will need to show your
hardship to your lender.
If you qualify to do a short
sale it allows you to stop the foreclosure process thus minimizing the
impact on your credit score. You get a fresh start and may be able to
buy again in as little as 2 years.
Also, it is important to note that a short sale does not cost you any money.
All costs are absorbed by the lender and you can remove this burden for
free.
New Short Sale rules that are part of the
Treasury's
Home Affordable Foreclosure Alternatives (HAFA)
program and are designed to speed up lenders' decisions on
short sales making it easier and quicker to sell your home as Short Sale.
Benefits to Seller:
- Avoids foreclosure
- No contribution, promissory note,
or deficiency judgment--first lien holders and second lien holders that
accept an incentive
- Pre-approved terms
- $3,000 moving costs
Caution:
Before entering into a short sale transaction be sure to talk
to a legal and/or tax professional as legal and tax consequences may vary.
Why
buy a short sale
As foreclosure rates hit record
levels the metro Phoenix, Arizona area, more sellers are turning to short
sales as a way to avoid foreclosure. So, how does it work? In a short sale,
the seller arranges with their mortgage lender to accept a price that's less
than the amount they owe on the property. As part of this arrangement, the
lender typically agrees to forgive the rest of the loan. As a result, the
seller doesn't have to go though a foreclosure, the buyer picks up a
property at a discount, and the lender avoids taking on the burden of
unloading the property.
You
can reach either one of to discuss your real estate needs!
Ralph at 602-390-8573 or Tricia at 602-390-0300 .
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