I get phone calls and emails all day and everyday in regards to Arizona short sales. Homeowners who fall under the Arizona short sale category are all very concerned and worried about the short sale and it’s ramifications. But one thing I find is that a lot of homeowners don’t do their research in regards to their Arizona short sale. So I have compiled a list of tips to help homeowners out.
- Arizona Short Sale Tip #1 – Do your research. Read anything and everything you can find about short sales in Arizona. There is a plethora of information out there and you want to be informed before you talk to anyone.
- Arizona Short Sale Tip #2 – Talk to more than one short sale negotiator. There are a lot of Realtors out there these days that do Arizona short sales. Make sure you talk to several before you make your decision. Some who claim to be experts on short sales really dish out their work to a third company. Some have just taken one class that gives them an “Arizona Short Sale Expert” title and actually haven’t negotiated anything. If your Realtor does use a third party, make sure you talk to the actual negotaitor as well.
- Arizona Short Sale Tip #3 – Make sure your Arizona short sale negetiator has worked with your mortgage company. Like I said before, there are a lot of newbies out there. If you have a very common mortgage company and your Arizona short sale expert hasn’t worked with them, they probably aren’t an expert.
- Arizona Short Sale Tip #4 – Ask your realtor about the average time it takes to negotiate the short sales. If they quote anything over 6 months, run away. They don’t have any sort of initiative to close the short sale quickly.
- Arizona Short Sale Tip #5 – Be on your toes with your Arizona short sale. With short sales, especially in Arizona’s decling market, you have to be on your toes. If the bank asks for updated paper work, GET IT TO THEM. Keep any new pay stubs or bank statments you might get during the negotiating in a file so they are easily acessible.
Thanks for reading and I hope this helped every homeowner who is considering a short sale in Arizona.
Keep coming back.
- Jeff Buettner
Real Estate Wiz Kid
Arizona Short Sale Realtor & Negotiator
I can’t make payments on my Arizona home any more. I think I might need some Arizona Short Sale help!
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Hi you hit it on the head; this was a great recap of all the factors!Once a short sale is authorized, you must work closely with your lender and provide requested documents in a timely fashion. Even more important, you must learn how to write a hardship letter that is concise. Doing so can greatly increase your chances of success and potentially free you from your mortgage loan debt.
Jeff, what percentage of short sales actually close in your area? Here in Las Vegas the percentage is very low, only 10%. Considering the large number of homes that go into foreclosure, short sales aren’t a great option here.
Good points. How much lower than list price do you usually offer?