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Phoenix A short sale is a real option for homeowners who are underwater
If you live in the Phoenix area Arizona and have fallen on hard times, you may be in a situation where you should sell your home. A short sale is a solution to many of those who meet the requirements. You will need a reputable real estate short sale certified with sales experience short to help you negotiate the process. They will also do its best to quickly find a buyer for your home, so you can get out from under stress financial.
While the process can get lengthy and often does, it will be much better if you choose an experienced short sale certified realtor who thoroughly understands the process. It's your job to find a buyer for his house, and a reliable agent will handle all the details they can for you. With the economy in decline and tremendous job loss you are experiencing, many homeowners are now simply can not afford their mortgage any longer. If you live in Phoenix, and this describes you, learn more about the short sale process.
How does the process? Here's a basic explanation:
- To choose a short sale, you must qualify. Beneficiaries may include proof that the market value of your home has fallen. In addition, some lenders consider this option if your mortgage is in or near default. You should also be prepared to demonstrate that it has fallen on hard times, and this does not mean spending your money foolishly. An example of a serious difficulty: The loss of employment, death, divorce, unexpected medical expenses, bankruptcy
- You, as a seller, sign a sales agreement with a real estate agent who has experience in the short sale process. The agent must then try to find a buyer who bid for less than the mortgage balance.
- As a seller, you will be responsible for accepting the buyer's offer.
- It is then your lender to decide if they are willing to accept the offer of the buyers.
- The lender either accepts or declines the offer. If accepted, the lender release the lien and you as the seller, you will be provided in writing.
If you consider a short sale home in Phoenix, be aware credit that will be affected, but would be completely for nothing because with foreclosure. With a short sale, you can generally buy another house within 18 months to two years, while foreclosure makes it nearly impossible to buy another house for about 5-7 years. Exclusion is also shameful for many people, so taking this route will help avoid the stigma.
A short sale sound like a good solution for their problems? Contact Contact a real estate agent in Phoenix prestige and experience, which may explain the process in detail and help you make an informed decision.
Maureen Karpinski
Find your <a href = http://www.cactuscountryproperty.com/city/phoenix.htm> Phoenix, Arizona Property </ a> <a Arizona Cactus Country Homes & Properties href=http://www.cactuscountryproperty.com> </ a>
About the Author
Maureen has been in the real estate industry for 36 years as an agent and broker/owner of her own company. She prides herself in successful negotiation for both buyer and sellers and in building successful portfolios for investors. She is proud of her Agent friendly office environment that is her own creation and the caliber of real estate agents she has working for her
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