Please take a moment to watch our valuable video series on short sales, and don't hesitate to call with any questions...Enjoy!
I feel the most important benefit of a short sale is that you, as the homeowner, have control of the disposition of your largest asset (your home). A short sale gives you the opportunity to mitigate your situation, rather than simply walking away and leaving your financial future in the hands of the bank. In a short sale, your home will bring anywhere from 10-20% more money to your lender than if it were a bank-owned. This gives you the opportunity to end up with a smaller deficiency, and allows you to get out of an uncomfortable situation with the negative effects of a foreclosure on your credit report.
Another common question asked of our team of Phoenix short sale agents is, “Is a short sale right for me”? This is always a difficult question to answer, as it can only be answered by you, the homeowner. We always advise our clients that until you are prepared to walk away from your home, and this is the ONLY option you are considering, it’s time to consider a short sale. Our Phoenix short sale clients usually fall into one of these categories:
-They can no longer afford to make their payments. They have already missed payments, or know that they will be missing payments in the near future, due to their financial situation (also known as experiencing a financial hardship). Typical hardships we see are divorce, lost/reduced income, sickness/death of immediate family, job transfer, etc.
-They can afford to make their payments. They have already missed payments, or know that they will be missing payments in the near future, for what we call “strategic” reasons (also know as a “strategic short sale”). Typically, these clients feel that it is in their best financial interest to “get out from under” their mortgage now, rather than waiting several years for the market to recover.
When it comes to marketing your home, our team of Phoenix short sale agents treats it just like any other “traditional” or “equity” real estate transaction. We hire a professional photographer to take pictures of your home, list it for sale in the local MLS, include it on our company website, and distribute it to 60+ real estate related websites such as Trulia, Zillow, Realtor.com, etc. Just as in a "traditional sale", our goal is to attract as many willing and able buyers to your home, just as we would in a traditional sale, as our ultimate goal is to get "market-value" for your home.
One of the most common questions I receive as a Phoenix short sale agent is, “Why won’t the bank modify my loan”? Watch this video to get the answer to this popular question.
Hands down, these are the two most popular questions asked of me, and our clients often get the two questions "mixed together". Suffice it to say that our number one goal in a short sale is to do everything in our power to make sure our clients are absolved of any potential deficiency issues. Having an attorney and a CPA on our team helps us tremendously with not only deficiency issues, but tax consequences as well. Watch this video to learn more...
Short sales are not for the inexperienced. Our short sale processor, Charlotte Scott, has completed over 200 short sales to date, and has some very high-level contacts at virtually all of the lenders. As you will see from our blog, I am extremely passionate about helping our clients avoid foreclosure. We have a dedicated team in place that is here to help you through this process. Watch the video below to find out more about our team, and what makes us stand apart from the rest.
As always, if you would like to discuss your specific situation, feel free to call me directly, and I'll do my best to help you. We are a no pressure team. If I can't help answer your question, chances are I'll know someone who can. In the meanwhile, feel free to take a look at some of our recent short sale approvals and actual letters from the lenders by following this link: Phoenix short sale approval letters
Thank you again for subscribing and watching our videos. I hope you found them helpful.
Bob Hertzog
602.909.5994
Come see this beautiful 3 bedroom 2 bath home with a 2 car garage and separate laundry room. Gas range for that chef and a peninsula with breakfast bar! Main bedroom is a...
CONVENTIONAL OR CASH OFFERS ARE WELCOME! Complete remodel comps coming in around 430K-440K; Priced to sell ''AS IS'' with no contingencies. Solid, block home with good b...
Must see two bedroom townhouse in the heart of West Phoenix. This cozy single level boasts two bedrooms and two bathrooms. Closed in courtyard provides added privacy. Spa...
Looking for a 4 Bedroom 3 Bathroom home with a beautifully landscaped backyard with pavers and artificial turf, this is the one! Tile flooring in all the living areas. Ca...
None
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Looking for the perfect home in the perfect place? Chances are you'll want to check here first.