What is a Short Sale?
A short sale isn’t named that because it’s a short time frame. It is because the owner is selling the property for less than the amount financed. The owner’s (seller’s) goal is to have the bank forgive the excess debt and let the seller move on with their lives. So the definition of a Short Sale is when the bank agrees to take less than what is owed.
Why do a short sale?
Generally short sales are done before the bank forecloses on a property. Once an owner is behind on payments, or there is a hardship that will affect the owners ability to pay, a short sale may be an option. Generally, short selling a home will affect credit less than a foreclosure. This number could be 100-300 points different than a foreclosure.
Short Sale vs. Foreclosure?
There are a lot of loan programs available which will allow you to purchase a home in as little as 2 years after completion of a short sale. And if you foreclose you are looking at 5-7 years before being able to buy again. And as mentioned above you can potentially save a lot of points on your credit score.
How much does it cost me?
ZERO! We will ask the bank to cover all commissions due any Realtors and closing costs that the seller may be due. Once in a while, the bank will ask the seller to help with a fee or two, but there is never a liability to do so.
Can’t any Realtor list my home for a Short Sale?
Absolutely, just like you should see a heart specialist for a broken arm…
There are many agents that do not do short sales the “correct way”. There are certain procedures that need to be done in every short sale listing. There all also procedures that the buyers need to follow to ensure that the short sale has the highest chance possible of closing escrow. That is why it is very important to work with an experienced short sale team.
What makes us qualified?
The two members of our team have closed many,many short sales from both the buyer and seller side. Brian Petersheim is a Maricopa resident with a Bachelor’s degree in Marketing and Management. He has the Realtor designations of ABR (Accredited Buyer Representative) and CNE (Certified Negotiation Specialist). Kelly Courvisier has a Bachelor’s degree in Business from Arizona State University and she is a Certified Short Sale Negotiator (CSSN).
How do I list my home as a Short Sale?
It’s easy! Just pick up the phone today and call for your free consultation! We have a list of all of the paperwork required by the banks. We list your home for market value and we advertise the home for sale AS IS. Once we get an acceptable offer, we will submit it with all of your paperwork for short sale approval to your bank. We will keep in touch with the bank during the entire process. At this time you can stay in your home with the peace of mind knowing that we are working on the Short Sale. So what are you waiting for? Call us Today!
Realtor, Certified Short Sale Specialist
HomeSmart Real Estate
Direct (602) 619-1985
E-Fax (602) 503-4451
Brian Petersheim direct- 602-206-9644
efax-888.878.8213
BrianPetersheim@aol.com
