SHORT SALES MADE EASY!

The current number of property owners upside down is staggering in today's market. The causes are many, most are not your fault. The solution may be a short sale, meaning you sell the home for less than the current mortgage.

Did you know Arizona is a "Non-Recourse" state. This means that a lender can't come after you for the short fall or money short of the entire mortagage. The Fed's have also pass a bill making this scenario no longer a taxable event. We highly recommend that you speak to your CPA or Tax attorney to verify your personal situation.

The process is fairly simple, we market and sell your property for market value, submit the contract for lender approval and close the escrow;   Well sounds simple!

What we will need is all the reasons you can't continue to make payments in a handwritten letter.

Two years tax returns with W-2 or 1099's attached.

Last two month's bank statments, and pay stubs

We will package your information along with the sales contract, listing agreement, and HUD one from the title company and present the entire package to your bank's loss mitigation department.  Some banks have special short sale departments just to handle the the thousands of contracts coming in daily. The bank will order an appraisal, or Realtor BPO, broker price opinon, and either approve, counter or denie the offer based on all the data. 

The process depending on the bank and how complete our package is may take anywhere from 5 weeks to 6 month's just depending on which bank and the volume of contracts on their desks. Patience is a requirment from all parties involved, we have seen several buyers get tired of the process and cancel out then we need to start all over.

The most important thing is to get prepared with all the documents needed to complete the transaction.