Arizona Short Sales as a Winning Situation for all
Sometimes short sales get a bad rap because they are often a last resort for homeowners hoping to avoid foreclosure. People see them as desperate measures for desperate people. For the most part, these homeowners are knee-deep in debt (for whatever reason–legitimate or not) and cannot keep up on their payments. Fortunately, an Arizona short sale
is an option that does not diminish future buying power or destroy credit like a foreclosure would. A short sale can, in fact, be a win-win-win situation in three ways.
Who can benefit from an Arizona short sale?
First, the seller wins! That’s YOU. You can avoid foreclosure (which ultimately destroys your credit and is the worst possible situation to be in for a homeowner). After you sell your home, you are free from the mortgage payment and the debt, so you don’t owe their home lender a dime. And, while the Arizona short sale is being processed, the seller can continue to live in their home mortgage-free. This option can allow you to buy a new home in as little as two years.
The buyer wins, too! They get an awesome house quickly and at a super low market value. They will actually get to know the seller and they can feel confident knowing that short sale property is usually in better condition because it is being maintained by the current owner/seller.
And, believe it or not, the lender wins! Remember that banks are NOT in the real estate industry–they are in the money industry. Through an Arizona short sale, they avoid the expense of foreclosure, attorney fees, etc. They also don’t have another home on their hands that they have to list, find an agent for, and sell. It does short them some money, but it’s easier and cheaper in the long run.
All in all, everyone can win through a short sale. Arizona short sales
can be a viable option for anyone looking for a way to be free of their major debts and move on with their life.