A look into the Arizona Short Sale process.

Behind on your mortgage?  Owe more than your house is worth?  Trying to avoid foreclosure?  A short sale may be the answer.  But what exactly is a “Short Sale”?

A short sale is when your outstanding mortgage balance is more than your property is worth and the bank agrees to accept less in order to sell the property and avoid foreclosure.    Most agents don’t like to deal with short sales because of the time involved but we have a system that although ever-changing it helps us streamline the deal and get it done!

How long does a short sale take?  We are seeing average times from contract to closing around the 70-80 day mark.  Every deal is different and every bank is different but we are constantly forming new relationships and contacts every day inside the banks in order to keep our clients on top of the mountainous piles of other homeowners files’ that exist to help expedite our deals.

It sounds like a long process but how much work is it as a seller to short sale your home?   Actually, most of the work is on our side and is done by our team at AzHomeHelp.com.  We have our clients prepare a financial package that gives us everything we need to get the deal done.  After that, the homeowner basically just keeps the property in good showing condition and we handle everything else.  This involves all negotiations with the bank which can add up to over 100 phone calls or faxes plus we do our routine agent duties such as implementing our full scale and aggressive marketing program, showing the property to prospective buyers, handling the contracts and paperwork and doing everything we can to keep the transaction moving forward.

Related posts:

1. Scottsdale Arizona Short Sales Popularity Growing…
2. Arizona Foreclosure Process
3. Scottsdale Luxury Homes take a hit as real estate market continues decline.
4. Who is Eligible for a Short Sale and How Does it Affect Your Credit?
5. What is a short sale?