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Southern AZ Homes - Elements of a Short Sale

A short sale should never be the first choice a Seller performs because with it carries serious negative credit and, possibly, tax consequences. If a Seller takes any other actions other than full payment of the mortgage note they will have negative credit consequences.

The elements of a successful short sale are generally these:

The property is worth less than is owed.
The seller has some hardship that makes it impossible or extremely impractical for the seller to keep the property.
The seller is cooperative and willing to work with a real estate broker to package the short sale.
The lender is contacted and expresses willingness to entertain a short sale.
The property is listed, with appropriate caveats and protections for the seller, properly priced, and effectively marketed.
The lender is presented with an offer, accepted by the seller, along with a completed short sale package and narrative explaining why the short sale is necessary and desirable.
The lender approves the offer and escrow closes as usual. No proceeds go to the seller.

If you are a homeowner that needs additional information on marketing your property as a potential short sale. Please fill out the form below and I will contact you as soon as possible to help you try and sell your home before your lender forecloses on your property.

Main: Market Trends Foreclosure Support Sellers Have Options Elements of a Short Sale Short Sales / Foreclosures Buying Foreclosures

Agave Premier Properties & Investments
1891 North Mastick Way, Ste. A • Nogales, AZ 85621
AGAVE PREMIER PROPERTIES AND INVESTMENTS • Phone: 520.313.0352
Office (520) 281-4888 · Fax: (520) 761-3307
Mobile (520) 313-0352 · Email: ypalmer@q.com
Toll Free 1- 866-746-5814

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