Do you want to sell your home without the hassle of hiring a real estate team? Is time of the essence when it comes to your next move? Are you experiencing financial stress and need immediate relief? If you answered yes to one or more of these questions, you should consider opting for a short sale for your Phoenix home.
What is a short sale?
Short sales often occur when homeowners are experiencing financial trouble, making it difficult or impossible to cover the entire amount needed to cover their personal mortgage. If the couple or individual wishes to sell the home, he or she might find it difficult to list and sell their home at a price point that allows the loan taken out initially when buying the home, to remain covered in its entirety.
Several variables can make a home difficult to sell, not least of which is the local real estate market, including the buying and selling trends of the year in the year. Short sales were certainly more popular during the 2008 housing crisis as opposed to the current real estate market, which is relatively stable.
Why is a short sale a good idea?
Participating in a short sale is an individual choice. Common reasons for listing a home as a short sale include:
- Less impact on a homeowner’s credit score
- Allow homeowners to sell their home with pride and dignity
- Encourage homeowners to continue living in the home until the short sale is complete
- The bank normally pays the bill on real estate or agent commissions
- It is a fast, easy option for those who want to close in 120 days or less
How can a short sale help those in financial stress?
A short sale keeps the burden of being unable to pay for a mortgage off the homeowner’s hands, which gives the homeowner more financial freedom to explore less expensive home prices or downsize to an apartment or condominium. In most cases, the bank will take responsibility for paying for real estate and agency fees as well. Once the short sale has processed, the homeowner has the ability to begin repairing credit faster and more efficiently as opposed to agreeing to go through a foreclosure.
Sell your house in Phoenix with a short sale if you are having difficulty paying your mortgage or are experiencing significant financial stress. All Homes AZ employs a team who understand the inner workings of mortgages, short sales and real estate market trends that will aid you in making a decision that is right for you. Contact us today to get more information on the short sale services we provide and get some money back into your pocket faster!
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