Phoenix Short Sale
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Q: WHAT IS A SHORT SALE?
- (Watch the video) An Arizona real estate short sale is a negotiation between a homeowner and their mortgage lender to accept less than they are owed for an outstanding loan. Basically put, a short sale is used to stop the foreclosure process.
Q: HOW MUCH WILL IT COST?
- (Watch the video) A majority of short sales result in $0 out-of-pocket expenses or costs to the you, the home seller. Banks cover the costs of commissions, closings fees, and others.
Q: WHY WOULD THE BANK ACCEPT A SHORT SALE?
- (Watch the video) Banks aren’t in the business of property management and are only concernced with their bottom line. Short sales in today’s market provide more savings to banks, sometimes upwards of 30-40% savings when compared to foreclosing on the property.
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